Dec silver is trading 27.09 this morning down about a 1 penny. Silver is in my view in a wait and see pattern. The chart below on weekly continuation suggest there may be upside price action in the coming days. The dollar has been weak all morning but it didn’t give much lift to silver. The 28.00 level is a price that is going to be a jump starter for the bull camp. A break above $28 could get silver quickly jumping over $32.00. a roll below $25.00 is needed to discourage the bulls. The best way to approach this market in my view is using options. Please give me call to discuss a specific strategy.

Silver Weekly Chart
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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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