XAG  – Silver rebounded sharply last week, showing overbought pressure

Silver rose repeatedly last week, rising above the 32.20 level on Friday, and hit a low of $28.06 on Monday. With the cumulative increase of nearly $4, both the RSI and stochastic index have entered the overbought area. We need to be cautious in the short term or we may see that the further upside of silver prices will be limited. The current resistance level is estimated at the 50-day moving average of $32.50 and the 25-day moving average of $32.85, and the largest resistance is expected to be $33.30 and $33.60. As for the supporting level, it will firstly look at $31.80 and $31.20, and the next level is expected to be $30.85 and the 250-day moving average of $30.60.

London silver forecast range from April 14 to 18:
Resistance 32.75 – 33.55 – 34.35 – 34.90 –35.45
Support 32.00 – 31.20 – 30.65 – 30.15 –29.35 –28.55

London Silver April 14
Predicted early range: 31.90 – 32.50
Resistance 32.95 – 33.30– 34.00
Support 31.55 – 31.05 –30.50

iShares Silver Trust Silver Holdings:
March 31 – 13,944.69 tonnes
April 1 – 13,933.37 tonnes
April 2 – 13,897.99 tonnes
April 3 – 13,897.99 tons
April 4 – 13,881.01 tonnes
April 7 – 13,916.35 tonnes
April 8 – 13,937.6 tonnes
April 9 – 13,922.04 tonnes
April 10 – 13,981.46 tonnes
April 11 – 13,972.97 tonnes

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