SILVER weekly uptrend opportunity based On 1.00 Lot Calculation:
- EVENT: INFLATION (CPI) FOR MAY (JUNE 10, THURSDAY AT 13:30 GMT+1): EXPECTED 4.7%. US INFLATION (CPI) FOR APRIL AT THE HIGHEST SINCE 2008 (4.2% VS. 3.6% expected). Inflation has continued to rise, moved up by high stimulus packages provided by the US Federal Reserve and the US Congress. A rising inflation usually increases demand for gold and silver as the assets are traditionally considered a store of value, which tends to protect the purchasing power of people’s wealth amid higher inflation.
- EVENT: US FEDERAL RESERVE TO MEET NEXT ON JUNE 16, 2021: FEDERAL RESERVE KEEPS SAYING HIGHER INFLATION IS TEMPORARY, SIGNALLING NO INTERVANTION ANY TIME SOON. The Fed has kept its interest rates unchanged close to 0.00%. They continued to purchase 120 billion dollars of bonds per month in 2021 (equivalent to 1.44 trillion dollars per year). Since the beginning of the Pandemic, the Fed has purchased $2.5 trillion worth bonds.
- INDUSTRIAL DEMAND FOR SILVER TO RISE IN 2021: Global silver demand is forecast to reach 1 billion oz in 2021, rising 11% year-on-year and marking an eight-year high, largely driven by industrial end-users. Industrial demand is projected to increase by 9% year-on-year to 510 million oz this year (source: The Silver Institute), while the rollout of 5G technology in consumer electronics might be expected to increase silver demand.
- ANALYST OPINION: Goldman Sachs has kept its Silver Forecasts to $33 per ounce.
SILVER, June 7, 2021
Current Price: 27.44
|
SILVER |
Weekly |
|
Trend direction |
|
|
30.00 |
|
|
29.50 |
|
|
28.40 |
|
|
26.60 |
|
|
26.30 |
|
|
25.70 |
Example of calculation base on weekly trend direction for 1.00 Lot*
|
SILVER |
||||||
|
Pivot Points |
||||||
|
Profit or loss in $ |
25,600.00 |
20,600.00 |
9,600.00 |
-8,400.00 |
-11,400.00 |
-17,400.00 |
|
Profit or loss in €** |
21,047.27 |
16,936.47 |
7,892.72 |
-6,906.13 |
-9,372.61 |
-14,305.56 |
|
Profit or loss in £** |
18,066.46 |
14,537.86 |
6,774.92 |
-5,928.06 |
-8,045.22 |
-12,279.55 |
|
Profit or loss in C$** |
30,894.85 |
24,860.70 |
11,585.57 |
-10,137.37 |
-13,757.86 |
-20,998.84 |
* 1.00 lot is equivalent of 10000 units
** Calculations for exchange rate used as of 13:13 (GMT+1) 07/06/2021
Fortrade recommends the use of Stop-Loss and Take-Profit, please speak to your Client Manager regarding their use.
*** You may wish to consider closing your position in profit, even if it is lower than suggested one
**** Trailing stop technique can protect the profit – Ask your Client Manager for more details