Silver is increasing 1.7%

Fast Moving Market - 20/12/2024

20 December, 2024

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 is increasing 1.7% following data from the US showing that the Personal Consumption Expenditures (PCE) index is lower than anticipated (2.4% vs 2.5% expected)

Possible Scenarios:

If Silver fails to breach through R2 of 29.480, our Research Department expects the Silver to undergo a short- term downward correction.

If Silver manages to break above its R2 of 29.480, our Research Department expects the Silver to extend its gains to its R3 of 29.754.

Support and Resistance Levels:

Silver	S3	S2	S1	Reference Price	R1	R2	R3
Silver	28.078	28.307	28.535	28.840	29.206	29.480	29.754

Potential Profit or Potential Loss Calculations:

10 cents per 1 trading lot*	USD	EUR**	GBP***
10 cents per 1 trading lot*	(+/-) $100	(+/-) €96.22	(+/-) £79.66

*1 trading lot is equivalent of 10000 units
**EUR/USD= 1.03931
***GBP/USD= 1.25534
Calculations for exchange rate used as of Friday, December 20, 2024, 15:40 GMT

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