SILVER TRADING: Fed’s attitude is putting pressure on the metal

By | October 29, 2015

Silver was under pressure. At this stage, one of the key things that determines the dynamics of the precious metals are the expectations for the US Federal Reserve monetary policy. I must say that after the meeting, which was held on October 28, the US regulator was quite aggressive. Moreover, the Fed gave a clear hint at the next meeting, which, of course, supported the dollar. Today’s data on the rate of growth of the US economy (GDP in Q3 came in at 1.5% vs. 1.6%) failed to significantly change the mood of the market, which is already laid at the Fed rate hike in December.

In the area of 15.685 price level formed a support. Provided that the level is overcome, could increase sales that trigger the acceleration of the fall. On the hourly chart quotes already fixed below the 50-interval moving average, which also allows you to wait for a drop in prices in the short term.

silver chart
Silver chart

Trading analytics

SILVER (XAG/USD) – sell silver – Entry price: 15,685. Goal: 15,200. Stop loss: 16,020.
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Your email address will not be published.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 *