Here's a take on Silver from a trader whom I often follow.
It's from the Barchart site. His name is Michael Seery.
Silver Futures--- Silver futures in the March contract are trading higher by 40 cents currently trading at 14.19 an ounce and if you have been reading any of my previous blogs I was waiting for a price rally to initiate a short position as now I’m recommending a short at 14.19 while placing your stop loss above 14.60 risking 40 cents or $400 per mini contract plus slippage and commission.
Traders are awaiting the highly anticipated Federal Reserve announcement which comes out in a little bit more than an hour and if this trade works I will be adding to this position to the downside as the risk/reward is your favor at the current time as I think lower prices are ahead so take advantage of this huge rally ahead of this monstrous number. The precious metals across the board are sharply higher despite the fact that the commodities are lower as I don’t know why at the current time prices are reacting like this, but I will take advantage of this rally as I still think lower prices in silver are ahead so get short. TREND: LOWER –CHART STRUCTURE: EXCELLENT