XAG Silver – Silver Continues to Stabilize in the Short Term

Silver prices were under narrow pressure at the beginning of the week, slightly retreating below the $80. Even if a short-term pullback occurs due to news, $71.4 is expected to provide solid support. Additionally, the 100-day moving average, currently at $78.50, which held last week, also serves as an important reference point. The gap from the weekend, i.e., Friday's closing price of $80.80, will act as resistance. Technically, silver is currently in a triangle pattern awaiting a breakout; if it breaks upwards, the longer-term resistance will extend to $107. Short-term resistance is estimated at $79.8 and $80.8, with stronger resistance at $81.8 and $82.8. Support levels are expected at $79.0 and $78.7, with the next levels at $77.7 and $76.8.

Silver, April 21:

Forecasted Early Trading Range: 79 – 79.8
Resistance: 80.8 – 81.8 – 82.8
Support: 78.7 – 77.7 – 76.8

iShares Silver Trust Holdings:
April 13 – 15,271.53 tons
April 14 – 15,289.83 tons
April 15 – 15,254.64 tons
April 16 – 15,268.71 tons
April 17 – 15,310.95 tons
April 20 – 15,310.95 tons

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