NEWS: Silver price decreased 1.3%. Silver prices are falling, erasing earlier gains as the US dollar begins to strengthen sharply.
Possible Scenarios:
If Silver fails to breach through S2 of 21.124, our Research Department expects the Silver to undergo a short- term upward correction.
If Silver manages to break below its S2 of 21.124, our Research Department expects the Silver to extend its losses to its S3 of 20.993
Support and Resistance Levels:
Silver |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
20.993 |
21.124 |
21.256 |
21.431 |
21.641 |
21.799 |
21.957 |
Potential Profit or Potential Loss Calculations:
10 cents per 1 trading lot* |
USD |
EUR** |
GBP*** |
||
(+/-) $100 |
(+/-) €95.66 |
(+/-) £82.79 |
*1 trading lot is equivalent of 10000 units
**EUR/USD= 1.04540
***GBP/USD= 1.20786
Calculations for exchange rate used as of 15:00 (GMT) 28/11/2022