RJO FuturesCast

Daily Futures Market News, Commentary, & Insight

Metals

Silver heading to $20.00?

Posted 10/11/2019 8:56AM CT | Eli Tesfaye

When comparing gold and silver, in my opinion, the silver chart looks more bullish. Any sustained break in the U.S. dollar should send silver shooting to $20.00 area. The headlines are very supportive. The month of October may be a crucial month for U.S.-China trade talk. If that happens, it could strengthen a Renminbi and send the dollar lower. Silver could benefit from spillover effect. The U.S. political landscape is heating up as well.

From the technical prospective, a closer look of series of small flags suggest that more upside are likely.

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Eli Tesfaye

Senior Market Strategist
Eli started his career in the futures and options market while he was in graduate school finishing up his MBA in 2003. Eli specializes in Automatic trading strategies and systematic options trading strategies in futures market. He has been Series 3 license holder since 2005. Eli's is an avid reader, runner, and yoga practitioner.
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