Silver continues losing ground for the third straight day. The white metal could extend its slide on a break under $18.90, strategists at TD Securities report.

Failed rally has raised the likelihood of a short acquisition program 

“While trend follower shorts are not out of the woods just yet, the failed rally has raised the likelihood of a short acquisition program in silver markets.”

“Considering risk markets are vulnerable to our forecast for an upside surprise to this week's CPI data, we place our attention to the downside, estimating that a break below the $18.90 range in silver could spark additional selling flow from this cohort in the white metal.”