Home » Silver futures trading » Silver Futures Analysis 15 Sep 2010

Silver Futures Analysis 15 Sep 2010

Since the breakout of late August December silver futures have exhibited a strong bullish trend which was, once again, firmly in evidence yesterday as the December contract closed higher once again with a wide spread up candle which just failed to breach the $20.50 per ounce price point.  Throughout the last few weeks this bullish trend has found excellent support from the 9 day moving average, with any test lower during the silver futures trading session, touching this key indicator and thereby adding further conviction to the already strong positive sentiment for the industrial metal.  The move higher has also been fully supported by the 14 day moving average along with the 40 day, all of which are now pointing sharply higher.  In today’s early trading silver futures are once again in the ascendancy and at time of writing trading at $20.50 per ounce, up 7 cents per ounce on the day, so far.  In the longer term we are now looking towards a breach of the $22.00 per ounce high of early 2008.