XAG – Silver embarks on a new round of technical upward pattern

As for the silver, the price of silver clearly held the 25-day moving average in the early part of last week and is currently at $32.92. Without breaking through, the price of silver rebounded significantly on Tuesday last week and further broke through the top of the previous week on Thursday, creating another favorable technical upward pattern. The target is expected to extend to $34.60 and even the high of $34.87 on October 22 last year. The next level will firstly focus on the $35, and then point to $35.25 and $35.50. As for the nearest support, it is expected to be $33.90 and $33.55, and the largest support is forecasted to $33.30.

London silver forecast volatility from March 31 to April 5:
Resistance 34.45 – 34.95 – 35.30 – 35.60 – 36.45
Support 33.90 – 33.60 – 33.25 – 32.75 – 32.30

Silver March 31
Forecasted early range: 34.00 – 34.30
Resistance 34.45 – 34.85 – 35.15
Support 33.80 – 33.50 – 33.15

iShares Silver Trust Silver Holdings:
March 24 – 14,148.46 tons 
March 25 – 14,148.46 tons
March 26 – 13,950.35 tons
March 27 – 13,916.39 tons
March 28 – 13,944.69 tons

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