Silver price is rising 1.5%
October 9, 2026
NEWS: Silver price is rising 1.5%, recovering from its technically strong support area around $60 ahead of the US Michigan Consumer Sentiment data (15:00 GMT+1).
Possible Scenarios:
If Silver fails to breach through R1 of 61.269, our Analysis Department expects Silver to undergo a short- term downward correction.
If Silver manages to break above its R1 of 61.269, our Analysis Department expects Silver to extend its gains to its R2 of 61.988.
Support and Resistance Levels:
|
Silver |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
|
58.313 |
58.912 |
59.511 |
60.310 |
61.269 |
61.988 |
62.707 |
Potential Profit or Potential Loss Calculations:
|
10 cents per 1 trading lot* |
USD |
EUR** |
GBP*** |
|
(+/-) $100 |
(+/-) €89.32 |
(+/-) £75.64 |
*1 trading lot is equivalent of 10000 units
**EUR/USD = 1.11961
***GBP/USD = 1.32198
Calculations for exchange rate used as of Friday, October 9, 2026, 14:44 GMT+1