SILVER aiming for growth by 17,000

By | May 13, 2015

Recent comments by US officials give reason to hope that the US Federal Reserve would not rush to increase bets against the backdrop of complete uncertainty about the future prospects of the world economy. In addition, the American statistics and does not give grounds to speak of stability and confidence the US economic recovery (a serious disappointment recently become data on GDP growth in the 1st quarter of 2015, which added just 0.2%, slowing from 2.2 % in Q4 2014).

If, today published data on retail sales in the US will come out below expectations (+ 0.3% m / m), it is possible that the dollar will come under pressure, which beneficially affect the value of silver. In favor of the growth of quotations of precious metal signals and dynamics of futures positions. Net cash flow for silver grew. It happened against the backdrop of the simultaneous increase in the number of long and rather sharp reduction in the number of short positions.

silver chart
Silver chart
Trading analytics

Support and resistance levels  
Support 1    16,240
Support 2    16,000
Current price:   16,439
Resistance 1    16,500
Resistance 2    16,730

Silver (XAG/USD)  –  buy silver (xag/usd)  –   In the breakdown of the resistance level price 16.730 consider shopping for the purpose at the level of 17,000. Stop-Loss = 16,500

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

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