Silver (XAG/USD) has completed a large and significant top. Strategists at Credit Suisse expect the precious metal to plunge towards the $18.95/40 region.

Silver marks an important change of trend lower

“Silver has removed long-term price support at $21.68/42 as suspected and this has seen a large and significant top complete to mark an important change of trend lower.”

“Support is seen at $19.65 initially, then $18.95/40, which we look to hold at first for a consolidation phase.”

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news Join Telegram

Recommended content


Recommended content

Editors’ Picks

EUR/USD falls below 1.0400 amid resurgent USD demand

EUR/USD falls below 1.0400 amid resurgent USD demand

EUR/USD is trading below 1.0400, as the US dollar finds fresh demand amid easing risk-on flows in the European session. Rallying US Treasury yields keep the pair's upside in check, as the focus shifts to the EU Services PMIs. 

EUR/USD News

GBP/USD ticks higher above 1.2100 amid upbeat sentiment

GBP/USD ticks higher above 1.2100 amid upbeat sentiment

GBP/USD is advancing above 1.2100, as encouraging US-China trade news boosts risk sentiment and weighs negatively on the safe-haven US dollar. Firmer Treasury yields, Brexit and the UK political uncertainty could limit the pound. UK Final Services PMI eyed. 

 

GBP/USD News

Gold dribbles below $1,820 despite China-linked optimism

Gold dribbles below $1,820 despite China-linked optimism

Gold prices struggle to cheer US dollar pullback aid firmer yields, fears of recession. US-China trade dialogue, hopes of easing Trump-era tariffs on China favor cautious optimism.

Gold News

Why ApeCoin price will not monkey around anymore

Why ApeCoin price will not monkey around anymore

ApeCoin price is making some big moves as it breaks above a two-month-old declining trend line, suggesting a bullish resurgence. Investors can expect a 20% upswing after another confirmation.

Read more

FXStreet Premium users exceed expectations

FXStreet Premium users exceed expectations

Tap into our 20 years Forex trading experience and get ahead of the markets. Maximize our actionable content, be part of our community, and chat with our experts. Join FXStreet Premium today!

BECOME PREMIUM

Forex MAJORS

Cryptocurrencies

Signatures