Silver has held support from the $22.11 June low. Economists at Credit Suisse analyze XAG/USD technical outlook.

Silver already holds a – small – base 

The break above $23.00 has seen a small base complete and with daily MACD momentum also turning higher we look for further strength to the short-term downtrend and July high at $24.89/$25.27. 

More important resistance is seen at the YTD highs and potential downtrend from March 2022 at $25.92/$26.14 and only above here would be seen to suggest we are seeing a more meaningful move higher.

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