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.