RJO FuturesCast

Daily Futures Market News, Commentary, & Insight

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. 


March Silver Daily Chart


Phillip Streible

Early in his career Phillip began trading his own account as a screen trader focusing on the metals, grains and stock indices. He then became a Series 7 licensed financial consultant with A.G. Edwards. Later, he expanded his trading experience into a Series 3 licensed commodity broker with Investment Analysis Group. Most recently he was a senior market strategist at MF Global before joining RJO Futures in October 2011 as a senior commodities broker. As a senior commodities broker his goal is to show clients how to anticipate, recognize and react to bull and bear market conditions through the use of technical analysis techniques that help them to define risk.