Another Test Of Resistance At $26.30
Silver is currently testing the resistance at $26.30. Silver has already made several attempts to settle above this level in recent trading sessions but was not able to develop sustainable upside momentum. A move above the resistance at $26.30 will open the way to the test of the next resistance at $26.65.
In case silver gets above $26.65, it will continue its upside move and head towards the resistance at $27.00. If silver settles above this level, it will head towards the next resistance at $27.50.
On the support side, the nearest support level for silver is located at the 50 EMA at $25.80. The 20 EMA is at the same level, and silver will likely receive strong support in the $25.75 - $25.85 area.
A move below this support area will push silver towards the support at $25.55. In case silver declines below $25.55, it will head towards the next support at $25.30.
In case silver gets above $26.65, it will continue its upside move and head towards the resistance at $27.00. If silver settles above this level, it will head towards the next resistance at $27.50.
On the support side, the nearest support level for silver is located at the 50 EMA at $25.80. The 20 EMA is at the same level, and silver will likely receive strong support in the $25.75 - $25.85 area.
A move below this support area will push silver towards the support at $25.55. In case silver declines below $25.55, it will head towards the next support at $25.30.
Penafian
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