NEWS: Silver price is falling -2.6% due to a stronger US dollar and growing fears of US tariffs being implemented on other metals, including silver.
Possible Scenarios:
If Silver fails to breach through Reference Price of 32.368, our Research Department expects the Silver to undergo a short- term upward correction.
If Silver manages to break below its Reference Price of 32.368, our Research Department expects the Silver to extend its losses to its S1 of 32.128.
Support and Resistance Levels:
Silver |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
31.767 |
31.947 |
32.128 |
32.368 |
32.657 |
32.873 |
33.089 |
Potential Profit or Potential Loss Calculations:
10 cents per 1 trading lot* |
USD |
EUR** |
GBP*** |
||
(+/-) $100 |
(+/-) €92.34 |
(+/-) £77.34 |
*1 trading lot is equivalent of 10000 units
**EUR/USD = 1.08292
***GBP/USD = 1.29298
Calculations for exchange rate used as of Friday, March 21, 2025, 14:15 GMT