SILVER weekly special report based on 1.00 Lot Calculation:
TECHNICAL ANALYSIS:
- SUPPORT AREA $34.50 AND $33. Silver has moved its support area to levels between $34.50 and $33.
- LONGER–TERM UPTREND CHANNEL: As depicted by the weekly chart below, the silver price has kept trading within the longer-term black-lined uptrend channel, confirming its longer-term trend is up.
- WEEKLY MOVING AVERAGES POINT TO AN UPTREND: Silver prices have recently traded above the 20- and 50-week moving Averages, pointing to an ongoing uptrend. However, gold prices can also change their trend if prices fall below the 20- and 50-week moving Averages.
- 14-WEEK RELATIVE STRENGTH INDEX (RSI) STAYS ABOVE 50: The chart below shows that the 14-week relative strength index (RSI) remains in an uptrend, floating above the break-even point of 50, towards the upper limit of 70. However, there remains a risk of a potential breakout below this level if market conditions change.
- ALL-TIME HIGH PRICE: $49.80. Silver jumped to $49.80 in 2011, during the debt crisis in Europe. Currently, Silver trades around $35.90, and if a full recovery is made, this could offer an upside potential of around 39%. However, the price could decline.
GRAPH (Weekly): April 2024 – June 2025
Please note that past performance does not guarantee future results
EVENTS:
- FRIDAY, JUNE 6, AT 13:30 GMT+1: US NON-FARM PAYROLL (NFP) AND UNEMPLOYMENT RATE (MAY). A lower-than-expected NFP reading could be taken as positive for the silver price, because a weaker US economy could exert negative pressure on the US dollar. This data measures the change in the number of people employed during the previous month, excluding the farming industry. The data for the previous month stood at 177,000, which is lower than for the month before (228,000).
GEOPOLITICS:
- RUSSIA–UKRAINE POTENTIAL PEACE AGREEMENT IN JEOPARDY AS RUSSIA’S PRESIDENT PUTIN PREPARES FOR RETALIATION AGAINST RECENT UKRAINIAN ATTACKS INSIDE RUSSIA. Uncertainties remain high even after President Trump and President Putin's phone calls on May 19 and June 4, as no breakthroughs have been announced. The phone calls happened after rounds of unsuccessful talks between Russia and Ukraine in Istanbul, Turkey, on May 16 and June 2, where there were no signs of a major breakthrough either. Meanwhile, Russian President Putin said they will have to respond to recent Ukrainian attacks on Russia's fleet of bombers on the ground inside Russia.
- US – IRAN NUCLEAR TALKS: MIDDLE EAST TENSIONS RISE AS NO CONCRETE DEALS HAVE BEEN MADE BETWEEN THE USA AND IRAN. The latest round of talks between the US and Iran in Rome, Italy, brought no concrete agreements. Iran is still insisting on continuing its uranium enrichment program, while the USA wants zero uranium enrichment from Iran. The next and sixth round of talks is expected to take place sometime in June.
ANALYSTS’ OPINION:
- UBS: The bank targets a price of $38.
- CITIGROUP: The bank targets a price of $40.
- J.P. MORGAN: The bank targets a price of $38.
Source: Reuters, Bloomberg, CNBC
SILVER, June 6, 2025
Current Price: 35.90
|
Current Price: |
35.90 |
|
SILVER |
Weekly |
|
Trend direction |
|
|
38.00 |
|
|
37.50 |
|
|
36.90 |
|
|
35.00 |
|
|
34.70 |
|
|
34.50 |
Example of calculation base on weekly trend direction for 1.00 Lot1
|
SILVER |
||||||
|
Pivot Points |
||||||
|
Profit or loss in $ |
21,000 |
16,000 |
10,000 |
-9,000 |
-12,000 |
-14,000 |
|
Profit or loss in €2 |
18,378 |
14,002 |
8,751 |
-7,876 |
-10,501 |
-12,252 |
|
Profit or loss in £2 |
15,504 |
11,812 |
7,383 |
-6,645 |
-8,859 |
-10,336 |
|
Profit or loss in C$2 |
28,695 |
21,863 |
13,664 |
-12,298 |
-16,397 |
-19,130 |
- 1.00 lot is equivalent of 10,000 units
- Calculations for exchange rate used as of 10:00 (GMT+1) 06/06/2025
There is a possibility to use Stop-Loss and Take-Profit.
- You may wish to consider closing your position in profit, even if it is lower than suggested one.
- Trailing stop technique could protect the profit.