Welcome to the TFC Commodity Trading Forum.
Please feel welcome to join in on these informative ongoing discussions about trading futures and commodities.

The Trading Forum is intended for the open discussion of commodities trading. The management of this Forum does not agree or disagree with the ideas exchanged, and does not exert editorial control over the message posted herein. Read and post at your own risk. The risk of loss in trading or commodities can be substantial. We discourage the use of this Forum to promote trading that is acknowledged to be risky. Please note: many links from the Forum lead to pages on other web sites. We cannot take responsibility for nor endorse the information presented on those sites.

TFC Commodity Trading Forum

Re: March Silver/Double Top/NTR/Lee

Hey Lee. Yes the Turkey dinner turned out great. Still haven't figured out how to get the gravy made without the veggies getting cold as you need 2 burners for the gravy and the turkey must be out of the roaster and needs to be sliced and stuffing removed 1st. Perhaps an extra hot plate for the veggies could time everything perfectly. Have mastered the flavour in everything including the stuffing made from scratch as well. Just the damn gravy thing to conquer,lol.
As far as March Silver goes the breakout over 29.40 was a buy signal up to the double top resistance and that has occurred now. And resistance is resistance so a put bought now would be the trade I would think. Only thing is that is still a counter trend trade and the trend is your friend and is still strongly up. As long as price rides that 20ema its very strong. And if price clears and holds above this double top it's going to run higher. I guess one could buy a put here at the double top and if cleared dump it and buy the call for the ride up. Price is now trapped between the breakout pt of 29.34 and 30.75 resistance. The 1st sign of weakness would be a close below the 20ema and even then wouldn't be that bearish but at least a 1st possible sign of an end to this rally. But when the sell off begins it won't do it quietly. What goes up like a rocket will come down like a rocket. Notice every commodity out there is in the sky. Too many people on the commodity side of the boat and a reversal will be devastating to many. All these markets are being propped up til the end of the year so fund managers look good. That 1st week in Jan can be absolutely psychotic with prices soaring AND crashing that 1st week and whiplashing bulls and bears alike. I always avoid the 1st week of Jan as even the charts don't make a lot of sense with traders going crazy both ways for a variety of reasons. The Silver rally has been 4 months now and is very long in the tooth.

Messages In This Thread

Re: March Silver/Double Top/NTR/Lee