NEWS: Silver price is falling 2.1%. Silver Prices are dropping as recession fears cool investor sentiment for the commodity.
Possible Scenarios:
If Silver fails to breach through S1 of 19.743, our Research Department expects the Silver to undergo a short- term upward correction.
If Silver manages to break below its S1 of 19.743, our Research Department expects the Silver to extend its losses to its S2 of 19.577
Support and Resistance Levels:
Silver |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
19.411 |
19.577 |
19.743 |
19.964 |
20.229 |
20.429 |
20.628 |
Potential Profit or Potential Loss Calculations:
10 cents per 1 trading lot* |
USD |
EUR** |
GBP*** |
||
(+/-) $100 |
(+/-) €95.73 |
(+/-) £82.58 |
*1 trading lot is equivalent of 10000 units
**EUR/USD = 1.04460
***GBP/USD = 1.21095
Calculations for exchange rate used as of 15:35 (GMT+1) 01/07/2022