XAG London Silver - The price of silver initially broke the top, and it is expected to continue to stabilize in the short term

As for silver in London, the silver price hit a low of $22.66 on May 26, which was a two-month low. However, the silver price rebounded strongly after that, and both the RSI and the stochastic index have rebounded. It is estimated that the silver price may also take a breather in the short term stable. According to the gold ratio calculation, the rebound rate of 38.2% is 23.98 US dollars, and the silver price has clearly broken through this mark on Thursday; the rebound rate further extended to 50% and 61.8% is 24.39 US dollars and 24.80 US dollars. The key support is expected to reach the $26 mark. The lower support is estimated at the 25-day moving average of 23.85, and the subsequent support will be at 23.20 and 22.60.

iShares Silver Trust Silver Holdings:
May 29 – 14,565.78 tons
May 30 – 14,554.35 tons
May 30 – 14,554.35 tons
June 1 – 14,525.79 tons
June 2 – 14,519.41 tons
June 5 – 14,519.41 tons
June 6 – 14,550.83 tons
June 7 – 14,550.83 tons
June 8 – 14,550.69 tons

London Silver June 9
Predicted early volatility: 24.05 – 24.40
Resistance levels: 24.75 – 25.00 – 25.60
Support levels: 23.75 – 23.10 – 22.60

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