Silver Price Gives Back Near 61.8% Of Last Week’s Gains
Wednesday,23/03/2016|09:59GMTby
DailyFX News
Talking Points Silver prices have nearly given back 61.8% of their gains from the rally which started at the ...
Talking Points
Silver prices have nearly given back 61.8% of their gains from the rally which started at the March 16 low of $15.22.
In light of this upwards trend, today’s decline may be seen as short-term in nature.
Silver prices have nearly given back 61.8% of last week’s gains and the main motivator for the rally on March 16 was the set of dovish comments that emerged from the Federal Reserve. The central bank lowered the amount of rate hikes that they are now expecting to implement in 2016. Specifically, they referenced that rate hike implementations would be lowered from four down to two.
The lowering of rate hike volume than that which was previously anticipated, trigged a softer USD and a stronger silver price. This bullish driver for silver prices is still in place.
Technical Trend
The technical trend is bullish, and has been since January 2016. The rationale behind this, is that price is still trading above the March 16 low. The current decline may therefore be viewed as a correction within the upward trend and could be short-term in nature.
We note that price has given back close to 61.8% of its gains and some technical traders may use the 61.8% and 50% Fibonacci retracement levels as an indication as to the levels at which price could bounce.
For the trend to turn bearish, the March 16 low of $15.22 would need to give way and if this happens, price may reach the next support level which is the March 3 low of 14.87.
U.S. Data on Tap
U.S. New home sales are seen rising by 3.2% MoM according to a Bloomberg news poll, while U.S. Crude Oil Inventories are expected to gain 2.53 million barrels.
Silver prices have nearly given back 61.8% of their gains from the rally which started at the March 16 low of $15.22.
In light of this upwards trend, today’s decline may be seen as short-term in nature.
Silver prices have nearly given back 61.8% of last week’s gains and the main motivator for the rally on March 16 was the set of dovish comments that emerged from the Federal Reserve. The central bank lowered the amount of rate hikes that they are now expecting to implement in 2016. Specifically, they referenced that rate hike implementations would be lowered from four down to two.
The lowering of rate hike volume than that which was previously anticipated, trigged a softer USD and a stronger silver price. This bullish driver for silver prices is still in place.
Technical Trend
The technical trend is bullish, and has been since January 2016. The rationale behind this, is that price is still trading above the March 16 low. The current decline may therefore be viewed as a correction within the upward trend and could be short-term in nature.
We note that price has given back close to 61.8% of its gains and some technical traders may use the 61.8% and 50% Fibonacci retracement levels as an indication as to the levels at which price could bounce.
For the trend to turn bearish, the March 16 low of $15.22 would need to give way and if this happens, price may reach the next support level which is the March 3 low of 14.87.
U.S. Data on Tap
U.S. New home sales are seen rising by 3.2% MoM according to a Bloomberg news poll, while U.S. Crude Oil Inventories are expected to gain 2.53 million barrels.
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Finance Magnates Awards 2026 – Nominations Now Open
Finance Magnates Awards 2026 – Nominations Now Open
The Finance Magnates Awards 2026 nominations are now open. 🏆
From fintech innovators to leading brokers, this is where the finance industry celebrates its biggest achievements.
Winners will be announced at the Cyprus Gala Dinner on November 6, 2026.
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The Finance Magnates Awards 2026 nominations are now open. 🏆
From fintech innovators to leading brokers, this is where the finance industry celebrates its biggest achievements.
Winners will be announced at the Cyprus Gala Dinner on November 6, 2026.
Nominate your brand now.
https://awards.financemagnates.com/?utm_source=linkedin&utm_medium=video&utm_campaign=nominations-open
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Finance Magnates Awards 2026 | Nominations Now Open 🏆#Fintech #FMAwards #TradingIndustry
Finance Magnates Awards 2026 | Nominations Now Open 🏆#Fintech #FMAwards #TradingIndustry
Lights on. Cameras ready. 🎬
Finance Magnates Awards 2026 nominations are now open. 🏆
#FMAwards #FinanceMagnates #FintechAwards #Fintech
Lights on. Cameras ready. 🎬
Finance Magnates Awards 2026 nominations are now open. 🏆
#FMAwards #FinanceMagnates #FintechAwards #Fintech
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In this interview, you'll learn:
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* How Exness is addressing the demands of mobile-first, younger traders through engineering, platform stability, and transparent conditions.
* The essential role local talent plays in providing a culturally relevant and compliant user experience.
* Mohammad Amer's outlook on the future of the online trading industry and why stronger controls and systems are necessary.
* Why "trust" isn't just a brand value, but has commercial value—and why he predicts 2026 will be the "Year of Trust."
Key Takeaways:
➡️ The MENA region is rapidly shaping global financial markets.
➡️ New traders expect stability, precise execution, and transparency.
➡️ Local expertise is key to regulatory compliance and user experience.
➡️ Future success belongs to firms capable of meeting rising standards across regulation and platform consistency.
Read the full article at: https://www.financemagnates.com/thought-leadership/exness-sees-trust-as-the-key-theme-for-growth-in-mena-trading-growth-for-2026/
#Exness #MENA #Trading #FinTech #Dubai #OnlineTrading #FinanceMagnates #MohammadAmer #Trust #MobileTrading
Mohammad Amer, Regional Commercial Director at Exness, sits down to discuss the booming MENA financial trading market. Find out why Dubai is key to the company's growth strategy, how a mobile-first generation is changing expectations, and why trust will be the defining theme for traders in 2026.
In this interview, you'll learn:
* Why Dubai and the MENA region are critical growth markets for fintech and online trading.
* How Exness is addressing the demands of mobile-first, younger traders through engineering, platform stability, and transparent conditions.
* The essential role local talent plays in providing a culturally relevant and compliant user experience.
* Mohammad Amer's outlook on the future of the online trading industry and why stronger controls and systems are necessary.
* Why "trust" isn't just a brand value, but has commercial value—and why he predicts 2026 will be the "Year of Trust."
Key Takeaways:
➡️ The MENA region is rapidly shaping global financial markets.
➡️ New traders expect stability, precise execution, and transparency.
➡️ Local expertise is key to regulatory compliance and user experience.
➡️ Future success belongs to firms capable of meeting rising standards across regulation and platform consistency.
Read the full article at: https://www.financemagnates.com/thought-leadership/exness-sees-trust-as-the-key-theme-for-growth-in-mena-trading-growth-for-2026/
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- Built-in risk management in Altima Prop
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Altima CTO Sunil Jadhav sits down with Finance Magnates to discuss the core technology challenges facing CFD brokers and proprietary trading firms today.
Jadhav explains how the industry's reliance on batch processing and fragmented systems (where CRMs, risk tools, and trading platforms operate with separate 'sources of truth') leads to delayed data and inconsistent operational decisions. He argues that real-time event processing is essential for managing fast-moving trading activity and risk.
Learn how Altima's unified, event-driven architecture, connecting Altima CRM, Altima Prop, IB systems, and risk management through a single backbone, is designed to provide synchronous data and better operational coordination for modern brokerage and prop firm stacks.
Key Topics:
- Broker and Prop Firm Data Challenges
- The problem of delayed data processing (batch processing vs. real-time events)
- Fragmented systems and conflicting data sources
- Altima's unified, event-driven solution architecture
- The concept of a "risk-aware CRM"
- Built-in risk management in Altima Prop
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