Commerzbank sees silver going to $26



image of silver bars with rising chart trend line in background

“Above the market is the $24.95 recent high, but resistance extends up to tougher resistance offered by the 200-day ma at $25.56 and $26.07, the August high. The market will need to regain this area to regenerate bullish impetus. Please note that the 55-week ma also lies at $25.30. We favour the topside but it may take several attempts to clear this band.”

USAGOLD note: Commerzbank also sees 22.85 as initial support on the downside “underpinned” by strong support at $21.87. T”hese are considered to be a major band of support,” says the bank, “and we expect them to act as a floor for the market.”

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