Silver price increased 1.3%

Fast Moving Market - 26/03/2024

26 March, 2024

The example below uses Contracts For Difference (CFDs). Calculations are only on the price of the specific instrument on the date below and calculations indicate a possible profit or loss. No representation or warranty is given as to the accuracy or completeness of this information, consequently any person acting on it does so entirely at their own risk.

NEWS: Silver price increased 1.3% as the US dollar continued to fall after hitting its highest levels since early January.

Possible Scenarios:

If Silver fails to breach through R1 of 24.894, our Research Department expects the Silver to undergo a short- term downward correction.

If Silver manages to break above its R1 of 24.894, our Research Department expects Silver to extend its gains to its R2 of 25.136.

Support and Resistance Levels:

Silver	S3	S2	S1	Reference Price	R1	R2	R3
Silver	23.896	24.098	24.300	24.570	24.894	25.136	25.379

Potential Profit or Potential Loss Calculations:

10 cents per 1 trading lot*			USD	EUR**	GBP***
10 cents per 1 trading lot*			(+/-) $100	(+/-) €92.12	(+/-) £78.98

*1 trading lot is equivalent of 10000 units
**EUR/USD= 1.08553
***GBP/USD= 1.26607
Calculations for exchange rate used as of Tuesday, March 26, 2024, 09:38 GMT

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