According to preliminary estimates by The Silver Institute, global silver supply in 2021 will increase compared to 2020 by 8% to 1,056.3 million ounces, and global demand by 15% to 1,033 million ounces. This will see the global silver surplus shrink to 23.3 million ounces from 80.1 million ounces in 2020. It should be emphasized that, excluding ETP (Exchange Traded Product) funds, there will be a silver deficit of 126.7 million ounces in the world in 2021. At the same time, industrial demand for silver will reach a record level of 524 million ounces. Of these, photovoltaic demand will be 105 million ounces in 2021. Note that silver, in addition, is actively used in 5G communication equipment.
| Indicator | VALUE | Signal |
|---|
| RSI | | Sell |
| MACD | | Sell |
| MA(200) | | Sell |
| Fractals | | Buy |
| Parabolic SAR | | Buy |
| Bollinger Bands | | Sell |
Summary of technical analysis
| Order | Buy |
| Buy stop | Above 20,82 |
| Stop loss | Below 19,32 |