Support At The 50 EMA At $25.70 Stays Strong
Silver is currently testing the nearest resistance level at $25.85. In case this test is successful, silver will have a chance to get to the test of the resistance area at $26.25 - $26.30. Silver made several attempts to settle above this area in recent trading sessions but did not manage to develop sufficient upside momentum.
A move above $26.30 will open the way to the test of the resistance at $26.65. In case silver gets above this level, it will move towards the resistance at $27.00.
On the support side, the nearest support level for silver is located at the 50 EMA at $25.70. A successful test of the support at the 50 EMA will push silver towards the support at the 20 EMA at $25.50. In case silver declines below the 20 EMA, it will move towards the support at $25.30.
A move above $26.30 will open the way to the test of the resistance at $26.65. In case silver gets above this level, it will move towards the resistance at $27.00.
On the support side, the nearest support level for silver is located at the 50 EMA at $25.70. A successful test of the support at the 50 EMA will push silver towards the support at the 20 EMA at $25.50. In case silver declines below the 20 EMA, it will move towards the support at $25.30.