According to the latest CFTC data, investors' positioning in short-selling transactions has increased, which today is driving silver prices down by nearly 1.9%. Furthermore, based on the five-year seasonal dynamics, SILVER typically recorded short-term declines around the end of February and March. Currently, the price of this commodity is breaking below the barrier of 23 USD per ounce.
It is emphasized that the statistical/survey information contained in this post is for presentation/information purposes only and should not be viewed as recommendations or target prices.
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CFTC data for silver. Source: XTB Research
Seasonal dependencies (5-year average) for silver. Source: xStation
The breakout on SILVER above the combined barrier composed of the 100-day exponential moving average and the 200-day exponential moving average (respectively, the purple and gold curves) was negated today. However, a key factor may be if silver will close its intraday price below the lowest levels of Friday's session. Source: xStation 5
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