JANUARY SILVER

Peter Ori Precious Metals Leave a Comment

I am anticipating a continued bullish pattern from the 14.000 area retracement in my opinion.

FUTURES ARE JANUARY 2019…. DECEMBER EXPIRING SOON This is a bullish January futures suggestion.

Support 14.030, 14.150, 14.000 area.

Resistance 14.750, 14.805, 15.000(100 day MA) area.

These are wider targets, targets closer to the last traded price, 14.412 last, as for this writing.

Closer targets are 14.300 support and 14.600 resistance

I am looking to possibly close the gap between 14.400 and 14.600,  you would buy futures looking to get to 14.600 That’s a basic strategy, your stop would be 14.285.

There are options for a longer term view, with a potential for Silver possibly rally further, a lower cost Call is the 14.95 Call costing .170 = $850.00 of quantifiable risk plus fees and associated cost.

If you were bearish or wanted downside protection a Put that covers downside would be 14.10 Put costs .169 = $845.00 of quantifiable risk plus fees and associated cost.

 

These are January options that expire in 40 days from now on 12/26/18

To discuss any strategies please feel free to call 888 391 7894 or email peterori@walshtrading.com

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