Silver has established its looked for base and has already moved to the first resistance at $26.09/22. Whilst strategists at Credit Suisse look for a pause here, they see scope for further gains ahead, ideally to $35.23/365.
Key quotes
“Silver has seen an even more dramatic move higher than Gold over the past few weeks, confirming the flagged multi-year base above $19.65, and strength has already extended to our flagged resistance at $26.09/22 – the 38.2% retracement of the entire 2011/2020 bear market and key lows from 2011 and 2012.”
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