NEWS: The Silver price increased 1.1% on hopes that the Omicron variant will only have a limited impact on the recovery of the global economy, where silver holds an important (industrial use) place.
Possible Scenarios:
If Silver fails to breach through R1 of 22.961, our Research Department expects the Silver to undergo a short-term downward correction.
If Silver manages to break above its R1 of 22.961, our Research Department expects Silver to extend its gains to its R2 of 23.12.
Support and Resistance Levels:
Silver |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
22.310 |
22.442 |
22.574 |
22.750 |
22.961 |
23.120 |
23.278 |
Potential Profit or Potential Loss Calculations:
10 cents per 1 trading lot* |
USD |
EUR** |
GBP*** |
||
(+/-) $100 |
(+/-) €88.04 |
(+/-) £74.11 |
*1 trading lot is equivalent of 10000 units
**EUR/USD = 1.13168
***GBP/USD = 1.34930
Calculations for exchange rate used as of 12:30 (GMT) 30/12/2021