SILVER: indecisive Fed will support the metal

By | September 17, 2015

Silver second day shows growth. A day earlier, the metal support was against the weakness of the dollar, caused by weaker-than-expected data on consumer price index in the United States. CPI fell by 0.1% versus + 0.1% in July. The annual rate was 0.2%. But now the market is more worried about the US Federal Reserve‘s decision on monetary policy, which will be announced later today. Given that the US regulator will not raise rates, it is quite possible, given the price pressure is not high enough, the white metal may demonstrate a rather sharp increase in short-term.

The district level is 15.102 intermediate resistance. Therefore, it would be enough to break even the least significant catalyst. Nevertheless, the passage of this level can increase the activity of buyers that will provoke further growth of quotations in the area of recent highs.

silver charts
Silver charts
Trading analytics
SILVER (XAG/USD)   –   buy silver   –   Entry price: 15,102. Goal: 15,611. Stop loss: 14,655.
Warning: Profitability in the past does not mean profitability in the future. Any projections are for information only and does not guarantee a result.
Share on FacebookShare on Google+Tweet about this on Twitter

Leave a Reply

Your email address will not be published. Required fields are marked *