Silver has been one of the best performing commodities this year gaining over 40% since the start of the year. It has also been reported across financial media and trending on twitter over the last few days as buyers have increased in confidence. Gold stole the limelight this year as it made fresh all time highs, but silver is trying to catch up with a gain of around 20% during May alone. So, this is why the seasonal pattern ahead is interesting.
Over the last 25 years the month of June has been a weak month for silver. From May 31 through to June 28 silver has lost value nearly two thirds of the time for an average drop of around 2.84%. Some of the largest falls have been over 10% and the largest drop was in 2006 with an 18.15% fall.
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Technically silver’s bull run has been increasing over recent days and weeks. Will a weak summer seasonal period provide a pull back buying opportunity?
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The major trade risk here is that previous seasonal patterns do not necessarily repeats themselves each year.
Remember, don’t just trade it Seasonax It!