Silver price is rising 2.9%

Fast Moving Market - 19/09/2024

19 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 rising 2.9% after Fed cut its benchmark interest rates to 5.00% from the previous 5.50%.

Possible Scenarios:

If Silver fails to breach through R1 of 31.135, our Research Department expects Silver to undergo a short- term downward correction.

If Silver manages to break above its R1 of 31.135, our Research Department expects Silver to extend its gains to its R2 of 31.497.

Support and Resistance Levels:

Silver	S3	S2	S1	Reference Price	R1	R2	R3
Silver	29.648	29.950	30.251	30.653	31.135	31.497	31.859

Potential Profit or Potential Loss Calculations:

10 cents per 1 trading lot*	USD	EUR**	GBP***
10 cents per 1 trading lot*	(+/-) $100	(+/-) €89.78	(+/-) £75.45

*1 trading lot is equivalent of 10000 units
**EUR/USD = 1.11386
***GBP/USD = 1.32536
Calculations for exchange rate used as of Thursday, September 19, 2024, 08:00 GMT+1

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