Stock Market Report Today: Silver Prices Consolidate

A special report on silver prices, movements and trends by AlphaBetaStock.com, an investment news website.

West Palm Beach, United States - September 11, 2019 /PressCable/ —

Today’s stock market report by AlphaBetaStock.com: Yesterday, silver prices fell, renewing local lows of August 27, due to moderate growth of USD in the market, as well as an increase in demand for risky assets. However, by the end of the daily session, the instrument managed to regain its losses, and today during the Asian session, the price is growing moderately.

Investors are awaiting the outcome of the ECB meeting, which will be held next Thursday. Under the pressure of poor macroeconomic statistics, the European regulator may decide on active actions aimed at stimulating the economy. In particular, a further reduction in the deposit rate is forecasted, as well as a possible launch of a quantitative easing program. Also, the ECB meeting will be the first in a cycle. The Fed and Bank of England meetings are scheduled next week. The US regulator is also expected to soften the monetary policy.

Support and resistance

On the daily chart, Bollinger bands grow moderately. The price range narrows, reflecting a sharp change in the trading direction in the short term. MACD falls, keeping a strong sell signal (the histogram is below the signal line). Stochastic reverses upward, being near its highs, which indicates that the development of corrective growth is possible in the short and/or ultra-short term.

It is better to wait for confirmation of the formation of a “bullish” correctional trend in the nearest periods.

Resistance levels: 18.31, 18.62, 19.00, 19.25.

Support levels: 18.00, 17.75, 17.48, 17.21.

Trading tips

Long positions can be opened after the breakout of 18.31 with the target at 19.00 or 19.25. Stop loss – 18.00.

Short positions can be opened after the breakdown of 17.75 with the target at 17.00 or 16.82. Stop loss – 18.10-18.20.

Implementation period: 2-3 days.

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AlphaBetaStock is news organization which has put together a team of experienced investment professional to find the best market news movers daily. The team has over 40 years of financial industry experience and degrees from around the world, cover the following categories/sectors: Technology, Healthcare, Services & Stocks to Watch

AlphaBetaStock focuses on identify companies that are emerging, growing or misunderstood that may present an opportunity for investors. This includes primary small and mid-cap companies. However, the research team will occasional see opportunities in blue chip or fund of fund management. Analysis includes fundamental and technical charts. Readers can count on AlphaBetaStock.com to find and report these opportunities – every single day.

Contact Info:
Name: Dave Wiggins
Email: Send Email
Organization: AlphaBetaStock
Address: 401 North Olive Avenue West Palm Beach, West Palm Beach, FL 33401, United States
Website: https://alphabetastock.com

Source: PressCable

Release ID: 88918179

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