CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Silver - 11/01/2021

Micro Analysis

11 January, 2021

For General Information only. Not Intended to Provide Trading or Investment Advice. Your Capital is at Risk.

MID-TERM TREND: UP

HISTORCIAL CHANGES IN SILVER PRICES

Year

December-31

January-31

Percentage Change

2015

$15.69

$17.23

+9.82%

2016

$13.83

$14.24

+2.96%

2017

$15.88

$17.50

+10.20%

2018

$16.90

$17.33

+2.54%

2019

$15.45

$16.01

+3.62%

2020

$17.84

$18.02

+1.01%

Average Price Increase

+5.03%

The table above tells us that silver prices historically rose January. After calculating the average price changes over the same period starting 2015, it stands at 5.03%.

However, please note that past performance does not guarantee future results.

  • The U.S. Congress has approved a $900 billion coronavirus aid package. President Elect Joseph Biden to lay out a plan of addition stimulus worth trillions of dollars (Thursday, January 14).

The US Congress approved on December 21, 2020 a $900 billion coronavirus aid package. It includes direct payments of up to $600 per adult, enhanced jobless benefits of $300 per week, roughly $284 billion in Paycheck Protection Program loans, $25 billion in rental assistance, an extension of the eviction moratorium and $82 billion for schools and colleges. Meanwhile, President Elect Joseph Biden wants to increase the recently enacted $600 rebate checks to $2,000 per person. The markets believe that this is possible as the Democrats will run the White House and the US Congress (House and Senate) next two years. Last time this happened was back in the 2008-2010 period when gold rose more than 500 dollars. The new money coming in could devalue the US currency due to inflationary pressure and high money supply, which in turn could have a positive impact on dollar-denominated Gold and Silver.

  • US Federal Reserve Monetary Policy Meeting (December 15-16)

In addition, the US Federal Reserve (December 16 meeting) said it will maintain its “POWERFUL” massive asset purchasing programme (monthly 120 billion dollars) until it sees substantial further progress in employment and inflation. The Fed did not announce policy changes, which was a bit of disappointment to some investors. The dot plot projections on interest rates said that 0.00%-0.25% rate should stay in place until the end of 2023.


Graph: (Silver, Daily)

Current Price: 24.500

Silver

Mid-Term

Trend direction

UP

Resistance 3

30.500

Resistance 2

28.900

Resistance 1

27.000

Support 1

22.100

Support 2

21.000

Support 3

20.000

Example of calculation based on trend direction for 1.00 Lot*

SILVER

Pivot Points

Resistance 3

Resistance 2

Resistance 1

Support 1

Support 2

Support 3

Profit or loss in $

60,000.00

44,000.00

25,000.00

-24,000.00

-35,000.00

-45,000.00

Profit or loss in €**

49,197.67

36,078.29

20,499.03

-19,679.07

-28,698.64

-36,898.25

Profit or loss in £**

44,436.54

32,586.80

18,515.23

-17,774.62

-25,921.32

-33,327.41

Profit or loss in C$**

76,536.00

56,126.40

31,890.00

-30,614.40

-44,646.00

-57,402.00

* 1.00 lot is equivalent of 10000 units
** Calculations for exchange rate used as of 9:50 a.m. (GMT) 11/01/2021
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

Share It With Your Network
SILVER Chart
Update Time: -
Highest
Lowest
1M 5M H D W
Prices are loading..
Ready for trading?Start Now