NEWS: Silver fell to its lowest rate since July 2020, as the industrial demand outlook for the metal came under pressure as the US economy is thought to be already in recession.
Possible Scenarios:
If Silver fails to break below Support 2 of 19.40, our Research Department expects Silver to undergo a short- term upward correction.
If Silver manages to break below Support 2 of 19.40, our Research Department expects Silver to extend its losses to its Support 3 of 19.23.
Support and Resistance Levels:
Silver |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
19.23 |
19.40 |
19.56 |
19.79 |
20.05 |
20.25 |
20.45 |
Potential Profit or Potential Loss Calculations:
10 cents per 1 trading lot* |
USD |
EUR** |
GBP*** |
(+/-)100$ |
(+/-)96.00€ |
(+/-)83.27£ |
* 1 trading lot is equivalent of 10000 units
** EUR/USD = 1.04147
***GBP/USD = 1.20086
Calculations for exchange rate used as of 13:53 (GMT+1) 01/07/2022