NEWS: Silver price is increasing 2.5% following improved general market sentiment due to positive news concerning China-US trade war
Possible Scenarios:
If Silver fails to breach through R2 of 33.475, our Research Department expects the Silver to undergo a short- term downward correction.
If Silver manages to break above its R2 of 33.475, our Research Department expects the Silver to extend its gains to its R3 of 33.738.
Support and Resistance Levels:
Silver |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
32.128 |
32.348 |
32.567 |
32.860 |
33.211 |
33.475 |
33.738 |
Potential Profit or Potential Loss Calculations:
10 cents per 1 trading lot* |
USD |
EUR** |
GBP*** |
(+/-) $100 |
(+/-) €88.03 |
(+/-) £75.29 |
*1 trading lot is equivalent of 10000 units
**EUR/USD = 1.13595
***GBP/USD = 1.32824
Calculations for exchange rate used as of Wednesday, April 23, 2025, 15:50 GMT+1