SILVER: in case of breakdown above 17,000 worth the wait continued upward movement

By | March 24, 2015

Silver gained momentum to grow after it became clear that the US Federal Reserve would not rush to raise your bid. Against this background, the precious metal that does not bring interest income began to grow. In addition, this “softness” in the mood of the Fed did not go to the benefit of the dollar, which began to wane around the perimeter of the market, making assets denominated in it more expensive.

Provided that the current data on the consumer price index in the United States reflect the reduction of price pressures, expectations that the rate increased in June will not only intensify, which may have added pressure on the dollar. If we look at the dynamics of futures positions. While CHDP of silver reduced, but it is worth noting that this is happening against the backdrop of the increasing number of long positions that can signal the possibility of a quick mood changes.

Silver
Silver

Trading analytics

Support and resistance levels
Support 1     16,730
Support 2     16,500
Current price: 16.939
Resistance 1    17,000
Resistance 2    17,250

Warning: Profitability in the past does not mean profitability in the future. Any projections are for informational purposes only and do not guarantee the results obtained.
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