According to strategists at Credit Suisse, silver is set to experience a further consolidation period, with the 38.2% retracement of its 2020 rally at $22.90 ideally holding. Key quotes “Silver is expected to extend its consolidation phase, but with support at $23.50/22.90 still ideally holding. Above $28.91 would suggest the trend is turning higher again with resistance above the $29.86 current cycle high seen next at $30.72 and eventually we think more meaningfully and what is our base case objective at $35.23/35.365, which is the 61.8% of the entire 2011/2020 bear trend and key price resistance from September 2018.” “Below $22.90 would warn of a deeper corrective setback with support next at $20.75, then $19.65.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next NZD/USD drops to fresh multi-week lows below 0.6600 FX Street 1 year According to strategists at Credit Suisse, silver is set to experience a further consolidation period, with the 38.2% retracement of its 2020 rally at $22.90 ideally holding. Key quotes “Silver is expected to extend its consolidation phase, but with support at $23.50/22.90 still ideally holding. Above $28.91 would suggest the trend is turning higher again with resistance above the $29.86 current cycle high seen next at $30.72 and eventually we think more meaningfully and what is our base case objective at $35.23/35.365, which is the 61.8% of the entire 2011/2020 bear trend and key price resistance from September 2018.” “Below… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
