Loading ...I hold the hold the 200 ma because they have a little room to move lower.
The thing is physical inventory in both the comex and Lbma are tight already without a buying op by industrials. So how long can this selling go on before they have to raise premium prices over futures which they already have.
Silver
Free Float and Liquidity
While total vault inventories are substantial, a large portion of this silver is earmarked for ETFs and other long-term investment vehicles. Analysts typically calculate an estimated “free float” by subtracting confirmed London-vaulted ETF/ETC holdings from the total LBMA inventory. This metric indicates the amount of metal that is potentially available for immediate trading, industrial allocation, or exchange delivery, which is significantly lower than the headline inventory number. [1]