NEWS: Silver price is falling -1.8%, as stronger than expected US economic data causes a spike in the US dollar.
Possible Scenarios:
If Silver fails to breach through Reference Price of 24.960, our Research Department expects the Silver to undergo a short- term upward correction.
If Silver manages to break below its Reference Price of 24.960, our Research Department expects the Silver to extend its losses to its S1 of 24.734
Support and Resistance Levels:
Silver |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
24.394 |
24.564 |
24.734 |
24.960 |
25.232 |
25.435 |
25.639 |
Potential Profit or Potential Loss Calculations:
10 cents per 1 trading lot* |
USD |
EUR** |
GBP*** |
||
---|---|---|---|---|---|
(+/-) $100 |
(+/-) €91.93 |
(+/-) £78.71 |
*1 trading lot is equivalent of 10000 units
**EUR/USD= 1.08777
***GBP/USD= 1.27050
Calculations for exchange rate used as of Thursday, March 21, 2024, 14:11 GMT