Silver (XAG / USD) recently rallied from just ahead of the September 21.64 low and rallied to the 24.69 downtrend, which is exposed. Above the downtrend, XAG / USD is targeting 28.93 and 29.89, according to Commerzbank.
Key statements:
“Silver (XAG / USD) appears to have established a bottom at 21.87 and the rally has hit the 24.69 downtrend so far, which remains. Is exposed”.
“The downtrend at 24.69 represents the barrier to the upside. This protects the recent spikes of 28.93 and 29.89 “.
“Below the market, the peak of 21.40 in 2008 protects the 200-day moving average at 20.98, where we would look for signs of stabilization, if they are seen (not favored).”
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