NEWS: Silver price is falling -1.4% after the dollar rebounded on robust US economic data.
Possible Scenarios:
If Silver fails to breach through S1 of 29.101, our Research Department expects the Silver to undergo a short- term upward correction.
If Silver manages to break below its S1 of 29.101, our Research Department expects the Silver to extend its losses to its S2 of 28.817
Support and Resistance Levels:
Silver |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
28.532 |
28.817 |
29.101 |
29.480 |
29.935 |
30.276 |
30.617 |
Potential Profit or Potential Loss Calculations:
10 cents per 1 trading lot* |
USD |
EUR** |
GBP*** |
||
---|---|---|---|---|---|
(+/-) $100 |
(+/-) €91.89 |
(+/-) £77.36 |
*1 trading lot is equivalent of 10000 units
**EUR/USD= 1.08825
***GBP/USD= 1.29271
Calculations for exchange rate used as of Friday, July 19, 2024, 10:20: AM