XAG – Silver is in a sideways consolidation

Silver was in a narrow range from June 12 to 17, and finally broke through in the afternoon of the 17th. The price of silver once reached $37.31. At the same time, the gold-silver exchange rate fell below $93 and once fell to $90.60. Then the price of silver fell back to the level of $35.50. The current price is lower than the four-day and nine-day averages, but it has not turned into a death cross signal. It is estimated that it should be able to hold above the 25-day average and maintain sideways consolidation. In addition, there is a divergence between the day and the week, and perhaps another trend will be adjusted. It is currently estimated to fluctuate between $35.65 and $36.55, with support levels of $34.90 and $33.90, and resistance at $37.45. Note that this Wednesday (25th) is the last trading day for COMEX silver options.

London Silver June 23-27 Forecast range:
Resistance 36.20 – 36.55 – 36.90 – 37.45 – 38.00
Support 35.65 – 35.10 – 34.75 – 34.40 – 33.90

London Silver June 23
Forecast early range: 35.75 – 36.20
Resistance 36.45 – 36.65 – 36.90 – 37.35
Support 35.50 – 35.30 – 35.05 – 34.60

iShares Silver Trust silver holdings:
June 9 – 14,656.98 tons
June 10 – 14,689.50 tons
June 11 – 14,729.08 tons
June 12 – 14,729.08 tons
June 13 – 14,675.36 tons
June 16 – 14,714.94 tons
June 17 – 14,675.36 tons
June 18 – 14,763.00 tons
June 19 – 14,763.00 tons
June 20 – 14,750.28 tons

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