Silver Futures— Silver futures in the March contract are currently trading at 16.55 an ounce after settling last Friday in New York at 16.71 down about $0.15 for the trading week experiencing low volatility once again, as this trend remains mixed to sideways in my opinion. Silver prices are trading below their 20 and 100 day moving average as they have been on the defensive over the last several weeks, but I do not think prices will retest the December 12th low of 15.63. I’m currently not involved in this market as I’m looking for bullish position to develop.

The U.S dollar is still hovering right near a 3-year low, but has not had any influence on silver prices over the last several months, which is surprising in my opinion – I think one of these days this sleeping giant will wake up to the upside. That could happen any week, so keep a close eye on this market and if you’re a long-term investor I still think historically speaking prices look cheap.

The commodity sectors have been slowly grinding higher in 2018 and I think that trend is going to continue for several years to come as growth in the United States has certainly come back for the fist time in 10 years and is now spreading worldwide. I think that will create demand for silver and the precious metals as a whole, so be patient and look at other markets that are beginning to trend, at least for now.

TREND: MIXED—LOWER

CHART STRUCTURE: SOLID

VOLATILITY: LOW