SILVER: the weak dollar pleases metal

By | September 24, 2015

Silver gained enough support amid weak data on orders for durable goods in the United States. Outside, though, and came in line with expectations, but showed a decline of 2%. Thus, doubts with respect to the US Federal Reserve rate hike looks justified. Thus, uncertainty remains and, if within his speech today Janet Yellen did not make clear, the dollar could remain under pressure, allowing it denominated assets grow in value.

The district level is the resistance of 15.212, which restrain the growth of the metal in the beginning of the week. With the passage of this level can increase the activity of buyers that will provoke further growth of quotations in the area of recent highs. Especially because on intraday charts quotes fixed above the 50 moving average interval.

silver chart
Silver chart
 Trading analytics
SILVER (XAG/USD)    –    buy silver   –   Entry price: 115,5. Goal: 120,00. Stop loss: 112,5.

Warning: Profitability in the past does not mean profitability in the future. Any projections are for information only and does not guarantee a result.

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