XAG London Silver - Silver Expected to Continue Testing Technical Resistance

In terms of London silver, the charts show the 10-day moving average crossing above the 25-day moving average, and the MACD indicator crossing above the signal line. Silver prices are expected to continue to develop with a bias towards stability, currently testing the trendline resistance at 30.60. A clear breakthrough in the future could potentially lead to a technical breakout from the recent three-month weakness. Calculated based on the cumulative decline since October last year, a 38.2% rebound level is at 31.08, with extensions to 50% and 61.8% at 31.82 and 32.55 dollars. Support below is anticipated at the 25-day moving average of $29.91, with the next levels at $29.40 and $29.00.

London Silver Forecasted Range from January 20 to 24:
Resistance: 30.65 - 31.05 - 31.75 - 32.50 - 32.85
Support: 30.25 - 29.95 - 29.60 - 29.20 - 28.80

London Silver January 20
Forecast early range: 30.15 - 30.40
Resistance: 30.65 - 31.10 - 31.85
Support: 29.95 - 29.65 - 29.30

iShares Silver Trust Silver Holdings:
January 13 - 14,314.40 tons
January 14 - 14,458.88 tons
January 15 - 14,458.88 tons
January 16 - 14,410.72 tons
January 17 - 14,410.72 tons

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