SILVER TRADING: data from the US may increase pressure on the metal

By | December 3, 2015

Silver remains under pressure. As before, the precious metals are being adversely affected by expectations of changes in monetary policy the US Federal Reserve. The prices laid likelihood of a rate hike at the Fed on 16 December. In such circumstances, money that does not bear interest income traditionally cheaper. Furthermore, in the current situation, the dollar clearly demand. The growth rate of the US dollar makes assets denominated in it less. Ahead will publish data on the index of business activity in the US service sector (December 3) and report on non-farm payrolls (December 4). If the figures come out at least in line with expectations, the dollar may get a new impetus to growth, which will put pressure on precious metals.

In the area of 13,900 level prices formed a support. Provided that the level is overcome, could increase sales that trigger the acceleration of the fall. On the daily charts and intraday quotes are kept below the 50-interval moving average, which also allows you to wait for the fall.

silver trading chart

Silver trading chart

Trading analytics

SILVER (XAG/USD) – sell silver – Entry price: 13,900. Goal: 13,780. Stop loss: 14,005.

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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