Silver Prices Look To Move Higher
Silver Futures—Silver futures in the December contract is currently trading higher by 8 cents at 18.13 an ounce as I have been recommending a bullish position from around the 18.00 level and if you took that trade the stop loss has now been raised to 17.48 as the chart structure is outstanding therefor the risk/reward is highly in your favor in my opinion.
The commodity markets in my opinion looks to move higher following the coattails of the U.S stock market which I also have a bullish trade as this market looks cheap in my opinion so continue to play this to the upside is I still believe we test the contract high of 19.75 which was hit on September 4th so stay long and continue to place the proper stop loss as prices look cheap especially compared to gold as silver prices are trading above their 20 & 100 day moving average as the trend is higher.
If you lake a look at the daily chart the chart structure is outstanding at the present time as I see no reason to be short as I also have a bullish recommendation in copper as I’m also incredibly bullish platinum & palladium, however you can not kiss all the girls at the party as then you would be too heavy on one side, but do not play the precious metals to the downside as prices are headed higher.
CHART STRUCTURE: IMPROVING
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