July ’19 silver futures short-term trend remains bearish and trading below $15.00 psychological levels. Silver is trading below short-term 9-day moving average, giving the bears a technical advantage. Any attempt to push silver above $15.00 has been met with formidable resistance. Silver prices have been stair-stepping down since late February highs as precious metals lost favor to high performing equities markets and the U.S. dollar snatching up most of the short term safe-haven purchases.

Physical commodities have been trading cheap and trending lower. Warren Buffet has famously said “Be fearful when others are greedy, and greedy when others are fearful”; With that in mind I feel as the precious metals shrink in price they are growing in potential value for long term investors. Equities are becoming chaotic due to devolving U.S./China trade talk, escalating tension and potential conflict with Iran, and an expectedly ugly 2020 presidential election. Bulls should be patient as economic confidence fades and profits made in the indices start to slip through investing public fingers, money may start to move into “something you can hold onto”.

Silver Jul ’19 Daily Chart

Silver Jul '19 Daily Chart

If you would like to learn more about metal futures, please check out our free Fundamental of Metal Futures Guide.

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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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