Silver price is falling -1.1%

Fast Moving Market - 10/04/2024

10 April, 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 is falling -1.1% after stronger than expected CPI data from the US.

Possible Scenarios:

If Silver fails to breach through S1 of 27.691, our Research Department expects the Silver to undergo a short- term upward correction.

If Silver manages to break below its S1 of 27.691, our Research Department expects the Silver to extend its losses to its S2 of 27.391.

Support and Resistance Levels:

Silver	S3	S2	S1	Reference Price	R1	R2	R3
Silver	27.091	27.391	27.691	28.090	28.569	28.929	29.288

Potential Profit or Potential Loss Calculations:

10 cents per 1 trading lot*	USD	EUR**	GBP***
10 cents per 1 trading lot*	(+/-) $100	(+/-) €92.03	(+/-) £78.72

*1 trading lot is equivalent of 10000 units
**EUR/USD = 1.08657
***GBP/USD = 1.27036
Calculations for exchange rate used as of Wednesday, April 10, 2024, 13:46 (GMT+1)

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