I Am Bullish Silver Prices

Silver Futures---Silver futures in the July contract are trading higher for the 2nd consecutive session up $0.10 at 14.93 as I'm am now recommending a bullish position while placing the stop loss under the contract low of 14.26 which was hit on May 28th as an exit strategy as the risk is around $3,400 or $1,400 on 2 mini contracts plus slippage and commission.

At the present time I have a bullish palladium trade which continues to surge on a daily basis while also having a bearish copper position which looks like we might be exiting that today as most of the commodity markets are higher due to the fact that China and the United States are starting to talk on trade once again.

In my opinion I believe the risk/reward is in your favor, but for the bullish momentum to continue we have to break the June 7th high of 15.15 as I think there's significant room to run to the upside as gold prices have also broken out.

Silver futures are trading above their 20 day but slightly below their 100 day moving average which stands at major resistance around the 15.25 level as the U.S interest rates continue to drop on a daily basis as that is a bullish fundamental factor towards the precious metals so look to be a buyer of this commodity.

TREND: ----HIGHER

CHART STRUCTURE: SOLID

VOLATILITY: LOW


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