London Silver - Silver's rally capped, stops at $22 mark

Silver price gains are capped, stop at $22 mark

In terms of silver in London, although the price of silver fell overall last week, the chart also shows that the RSI and the stochastic index have shown initial signs of recovery from the oversold area, or the short-term decline may be slowed down. The current nearer support is first to focus on the $22 mark that has not been broken in recent days. In addition, from the high of 26.21 on April 18 to May 13, it fell to $20.44, with a cumulative decline of $5.77. The gold ratio calculated a 38.2% rebound to $22.64. It was not able to break through this area at the beginning of this month. Therefore, if the price of silver can pass through this area this week, it is expected to stabilize again. Subsequent resistance is expected to be 23.30 and even the 250-day moving average of $23.54. The support below will pay attention to the May's low of 20.44 and even the $20 mark.

iShares Silver Trust silver holdings:
June 20 – 16,909.75 tons
June 21 – 17,018.79 tons
June 22 – 17,018.79 tons
June 23 – 16,955.66 tons
June 24 – 16,858.11 tons
June 27 – 16,858.11 tons
June 28 – 16,858.11 tons
June 29 – 16,835.16 tons

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