Silver prices increased 1.8%

Fast Moving Market - 29/09/2023

29 September, 2023

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 prices increased 1.8%. Silver prices increased sharply as a weaker than expected Core PCE number printed in the US, pushing the US dollar down and relieving the metals..

Possible Scenarios:

If Silver fails to breach through R2 of 23.551, our Research Department expects the Silver to undergo a short- term downward correction.

If Silver manages to break above its R2 of 23.551, our Research Department expects Silver to extend its gains to its R3 of 23.701.

Support and Resistance Levels:

Silver	S3	S2	S1	Reference Price	R1	R2	R3
Silver	22.782	22.908	23.033	23.200	23.400	23.551	23.701

Potential Profit or Potential Loss Calculations:

10 cents per 1 trading lot*			USD	EUR**	GBP***
10 cents per 1 trading lot*			(+/-) $100	(+/-) €94.35	(+/-) £81.59

*1 trading lot is equivalent of 10000 units
**EUR/USD = 1.06065
***GBP/USD = 1.22621
Calculations for exchange rate used as of Friday, September 29, 2023, GMT+1 14:15h

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