Silver Crashes Below $80 Then Roars Back – COMEX Flooded!
Silver’s 17-Month Exponential Uptrend Channel Broken
Silver’s 17-month exponential uptrend channel has broken, with the latest weekly Heikin Ashi candles confirming failed support and a trend reversal.
Verified: Technical analyses confirm the break of key bullish uptrend support amid recent volatility, as shown on TradingView charts and Forex.com reports.
Silver Slammed Below $80, Hits $77 Before Rallying Back Above $80
Silver was aggressively pushed below $80 and hit an early low of $77 before bouncing strongly back above $80 on renewed buying interest.
Verified: Live spot prices fluctuated with intraday lows near $77 and recovery to around $81, confirmed by APMEX, Monex, and JMBullion real-time charts.
Silver Slaughtered in Shanghai Trading
Silver dropped sharply in Shanghai, closing down 6.34% at $91.51, while SHFE silver inventory rose to 10.6 million ounces after an additional 4 tons were identified.
Verified: SHFE futures data shows a significant daily decline of over 5% with inventory updates available through the exchange’s market reports.
COMEX Silver Deliveries Hit 40.54 Million Ounces as Citigroup Issues 802 Notices
Citigroup’s house account issued 802 silver delivery notices Friday, driving total March COMEX silver deliveries to 8,108 contracts (40.54 million ounces).
Verified: CME Group delivery reports confirm over 8,000 contracts physically settled in March, aligning with intense demand and high notice volumes.