In the last 9 months one could have born a child and within that same time frame silver prices are lower by 44%. Bears have been in the driver’s seat with a few exceptions but is that about to change? Can you say R-E-V-E-R-S-A-L? At 8pm last evening est. September silver futures were trading at $18.17/ounce and as of this post futures are trading at $19.51…a 7.4% reversal.
I am operating under the influence if this is not the ultimate low it will at least deliver a tradable bounce. Back ratios spreads in September that were advised by yours truly have worked out very nicely to date and those brave enough to be long futures congratulations as we may not look back from here. My short-term target is the 20 day MA (red line) and I would not rule out a 38.2% Fibonacci retracement in the coming months lifting the September contract back near $25/ounce.
The train is just leaving the station so those not on board yet contact me for various bullish trade ideas in either September or December in either futures or options depending on your account size and risk tolerance.
To see me quoted in the Wall Street Journal today speaking to another commodity market …cocoa…click on link below.
As always, I’m here to discuss specifics and give guidance. Shoot me an email…Give me a call…you can reach me at: email@example.com or 954-929-9997