Silver Bulls are Back | RJO FuturesPosted 03/17/2017 9:32AM CT |
Silver futures have rebounded significantly, and continue to benefit from the Fed’s less hawkish stance after the FOMC meeting. The weakness in the dollar also played an active role, but should keep you on the defensive in case this turns out to be a head fake. So keep an eye on the major moving averages to see where the money flows, where silver has moved back to the 50 day moving average, and daily stochastics have turned higher from oversold territory. The key to this rally will be when ADX gains strength and this will confirm the bulls have taken charge.