XAG London Silver ─ Silver fell back from highs and entered a consolidation trend

In terms of London silver, the technical chart shows that the 10-day moving average has once again broken above the 25-day moving average. In addition, the silver price has found obvious support in the 27.65/70 area in the past two weeks, and even saw a sharp rise in the latter part of last week. , and broke through the $30 mark that was not clearly broken in late August. It has made a technical pull and then made an upward move. It is expected that silver prices will start a new wave of upward trend in the short to medium term. Subsequent resistance levels are estimated at $30.30 and $30.55, with the next level reference being $31.30 and the July high of $31.75, with the key point being $32.50. As for the nearer support, it is expected to be at $29.75 and the 25-day moving average of $29.30. The next level is expected to be $29 and $28.65.

London Silver September 19
Forecast early volatility: 29.75 – 30.30
Resistance 30.55 – 30.85 – 31.35 – 31.80
Support 29.30 – 29.00 – 28.65 – 27.90

iShares Silver Trust silver holdings:
September 9 – 14,480.22 tons
September 10 – 14,545.49 tons
September 11 – 14,545.49 tons
September 12 – 14,545.49 tons
September 13 – 14,575.29 tons
September 16 – 14,389.42 tons
September 17 – 14,341.18 tons
September 18 – 14,295.78 tons

Any questions? contact our professional analysis team