Silver Price Analysis: XAG/USD to sink towards $19.65 on a break below $22.63 – Credit Suisse

Silver (XAG/USD) may still be forming a major top. This would be confirmed on a break below $22.63, according to strategists at Credit Suisse.

A clear potential top continues to threaten

“Silver has seen near-term consolidation above key price and ‘neckline’ support, and a clear potential top continues to threaten.”

“Only a close below $22.63 though would see this confirmed to turn the core trend lower, with support then seen next at $21.68, then $19.65.”