XAG London Silver – Silver fell below the recent low and is still in the bottoming stage

As for London silver, the price of silver fell sharply after hitting a high of 32.34 last Thursday, which is close to the 50% rebound of the recent wave of decline, so it will continue to be an important reference resistance at present. From the technical chart, we can see that the 10-day moving average has risen above the 25-day moving average, indicating that silver prices will still tend to be relatively stable in the short and medium term. The current closer support is expected to be $28.70 and the 250-day moving average of $28.30. The larger support is seen at $28 and $27.60. In September this year, the silver price can stabilize in this area and start a strong upward trend thereafter. As for the upward resistance, it is estimated to be 29.20 and 29.50, and the subsequent larger resistance is expected to be 29.75 to 30 US dollars.

London Silver December 20
Predicted early range: 28.80 – 29.10
Resistance 29.30 – 29.50 – 29.80 – 30.10
Support 28.50 – 28.30 – 28.10 – 27.60

iShares Silver Trust Silver Holdings:
December 9 – 146,751 tons
December 10 – 14,594.23 tonnes
December 11 – 14,414.25 tonnes
December 12 – 14,397.24 tonnes
December 13 – 14,247.03 tonnes
December 16 – 14,247.03 tonnes
December 17 – 14,227.19 tonnes
December 18 – 14,227.19 tonnes
December 19 – 14,237.86 tonnes
 

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