Will Silver Break $20 An Ounce

Silver Futures--- Silver futures in the December contract is higher by 4 cents this Tuesday afternoon in New York currently trading at 17.95 an ounce still right near a 5 month high & if you are long a futures contract the chart structure has improved tremendously as now the 10 day low stands at 17.34 and will improve in 3 trading sessions therefore lowering the monetary risk.

For the bullish momentum to continue prices have to break last Friday's high of 18.29 as I still think we could be headed to the low $20 range in a couple months as problems with North Korea just are not going to go away in my opinion therefore supporting silver and the precious metals as a whole.

Silver prices are still trading above their 20 and 100 day moving average telling you that the trend remains to the upside as the U.S dollar has rallied about 75 points over the last couple of days keeping a lid on silver prices, however I still do believe that the U.S dollar is headed lower as that trend is strong on a weekly basis so continue to play this to the upside as I think the long-term bottom is in place as historically speaking silver remains very cheap in my opinion.TREND: HIGHER---CHART STRUCTURE: --IMPROVING

If you are looking to contact Michael Seery (CTA—COMMODITY TRADING ADVISOR) at 1-312-224-8140 I will be more than happy to help you with your trading or visit www.seeryfutures.com

Skype Address: mseery TWITTER---@seeryfutures

FREE TRIAL FOR THE LIMIT UP COMMODITY NEWSLETTER

Email: mseery@seeryfutures.com

If you’re looking to open a Trading Account click on this link www.admis.com

There is a substantial risk of loss in futures and futures options. Furthermore, Seery Futures is not responsible for the accuracy of the information contained on linked sites. Trading futures and options is Not appropriate for every investor.