Silver price is falling -1.7%

Fast Moving Market - 03/09/2024

03 September, 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 price is falling -1.7% ahead of US ISM Manufacturing PMI data in the USA (15:00 GMT+1).

Possible Scenarios:

If Silver fails to breach through S2 of 27.775, our Research Department expects Silver to undergo a short- term upward correction.

If Silver manages to break below its S2 of 27.775, our Research Department expects Silver to extend its losses to its S3 of 27.571.

Support and Resistance Levels:

Silver	S3	S2	S1	Reference Price	R1	R2	R3
Silver	27.571	27.775	27.978	28.250	28.576	28.820	29.065

Potential Profit or Potential Loss Calculations:

10 cents per 1 trading lot*	USD	EUR**	GBP***
10 cents per 1 trading lot*	(+/-) $100	(+/-) €90.48	(+/-) £76.21

*1 trading lot is equivalent of 10000 units
**EUR/USD = 1.10524
***GBP/USD = 1.31216
Calculations for exchange rate used as of Tuesday, September 3, 2024, 14:57 GMT+1

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