30 October, 2015
On Thursday, the price of silver significantly fell after the statement by the Fed regarding a possibility of monetary policy tightening later this year.
At the same time, poor data from the US could not support the pair. According to preliminary statistics, the US GDP for the third quarter grew by only 1.5%, against the previous quarter growth of 3.9% and forecasted figure of 1.6%. In addition, Personal Consumption Expenditures Prices in the third quarter grew by 1.2%, instead of forecasted 3.2%.
Support and resistance
Bollinger Bands on the daily chart is turning down, while the price range is widening. At the same time, the indicator formed a signal for correctional purchases. MACD continues moving down. Stochastic is approaching the oversold zone and may try to turn up soon.
The indicators recommend waiting for clearer trading signals.
Support levels: 15.54 (local low), 15.38 (8 October low), 15.25, 15.15, 15.00 (psychologically important level), 14.77, 14.63.
Resistance levels: 15.62 (local high), 15.84, 16.00, 16.10, 16.18 (14 and 15 October highs), 16.34 (28 October high), 16.46.
Long positions can be opened after the breakout of the level of 15.65 (with the appropriate indicators signals) with targets at 15.85, 16.00 and stop-loss at 15.50. Validity – 1-3 days.
Short positions can be opened after the breakdown of the level of 15.50 with the target at 15.00 and stop-loss at 15.65. Validity – 1-3 days.
Since December 2015 the index S&P500 has been in the downtrend. In February, the index fell to the level of 2108.0, which is almost 15%. In the past 4 sessions the index had adjusted, approaching the level of 1935.0...
On the 4-hour chart, the price is testing the level of 1210.80 (23.6% correction); the ascending 38.2% fan line is an additional resistance for the price. If this resistance area is overcome, a growth would continue to 1224.90 and 1249.25...
Yesterday, the price of silver fell to last Thursday’s opening levels, when a new local low since the end of October 2015 was reached. Prices of commodity assets are falling as risk appetite is gradually returning to the market...
Yesterday the pair showed choppy trade and closed at its opening level. The price was pressured by growth in the European stock markets and Fed Chair Janet Yellen testimony before the US Congress...
The Company ranks 23th on capitalization in the finance sector among the Issuers, trading in the American stock market. On 22 January the company reported for Q4 of the fiscal year of 2015. The company has been demonstrating negative dynamics for the last few quarters...
Since the opening of the trading day the price of crude oil Brent is declining. On the hourly chart the price has broken down the first support level of 34.35 (ÅÌÀ50), which is ÅÌÀ200 on the four-hour chart...
The price of gold has returned to the level of 1190.00 USD per troy ounce, (which is had at the beginning of November), regaining half of the losses since mid-October 2015. On the daily chart the price has broken down strong resistance levels 1129.00 (ÅÌÀ200)...
Amid sharp decline in the global stock indices since the beginning of the year European index EUROSTOXX50 has lost about 14%. During the final surge of decline from 3515.0 to 2840.0 last December, the price has managed to go above the level of 23.6% Fibonacci...
On the daily chart the price has broken down the upper line of the downward channel at the level of 35.50. Although, on the daily chart the indicators OsMA and Stochastic recommend long positions; on the four-hour chart the indicators give signals in favor of the sell positions...