The Silver Market Cap Myth: A Major Commodity Misconception
- Market Value Misconception: Many believe that silver's market cap can be calculated by multiplying the total historical production by the current price, but in reality, 90% of silver has been used in industry and is not available for trading.
- Supply Tightness: Although approximately 56 billion ounces of silver have been mined historically, only 20% can be recycled, with the rest being too costly, complex, or impractical to recover, leading to extremely tight market supply.
- Price Behavior Analysis: If there were vast amounts of silver available for trade, prices would not exceed $100 per ounce, indicating that the actual usable silver is far less than commonly believed, reflecting ongoing industrial demand.
- Future Mining Challenges: Future silver extraction may need to occur from e-waste, but this is only viable at significantly higher prices, further emphasizing the current market's misunderstanding of silver's availability.
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Technical Analysis for AXL
Technical Sentiment Analysis for Axelar (AXL) As of , Axelar (AXL) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 6 technical signals, shows that 3 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for AXL stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, AXL is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Axelar (AXL) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0211 | 0.0355 | 0.0481 | 0.0625 | 0.0751 | 0.0895 | 0.102 |
| Fibonacci | 0.0355 | 0.0458 | 0.0522 | 0.0625 | 0.0728 | 0.0792 | 0.0895 |
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