Time To Exit Silver

Silver Futures---Silver futures in the December contract ended the week on a sour note down $0.42 at 17.75 after settling last Friday at 18.11 an ounce as prices are near a 3 week low. I have been recommending a bullish position over the last several months from the 14.93 level originally in the September contract as it is time to exit and move on as prices are right near a 3 week low as the trend in the short-term has changed.

Silver futures are trading below their 20 day but still above their 100 day moving average as all the interest has come back into the U.S stock market which is right near another all-time high as money flows are entering equities and out of the metals.

If you are a longer-term investor I would still hold on to silver as I still believe prices are cheap historically speaking as this is just the pull-back as I will not take a short position as I think the downside is very limited.

At the current time I do not have any recommendations in the precious metal as I think this is a pause as we will probably will witness a consolidation over the next couple of weeks, but I still believe prices will head into the $20 range come year-end, but it is time to move on and exit.

TREND: MIXED

CHART STRUCTURE: POOR

VOLATILITY: HIGH

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