NEWS: Silver is falling 1.17% on speculation of possible stimulus tapering ahead of the Fed meeting (Wednesday, June 16).
Possible Scenarios:
If Silver fails to break below Support 1 of 27.49, our Research Department expects Silver to undergo a short-term upward correction.
If Silver manages to break below Support 1 of 27.49, our Research Department expects Silver to extend its losses to its Support 2 of 27.35.
Support and Resistance Levels:
Silver |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
27.20 |
27.35 |
27.49 |
27.68 |
27.91 |
28.08 |
28.25 |
Potential Profit or Potential Loss Calculations:
1 cent per 1 trading lot* |
USD |
EUR** |
GBP*** |
(+/-)100$ |
(+/-)82.46€ |
(+/-)70.70£ |
* 1 trading lot is equivalent of 10000 units
** EUR/USD = 1.21175
*** GBP/USD = 1.41080
Calculations for exchange rate used as of 13:57 (GMT+1) 14/06/2021