Silver has recently made another attempt to move above the resistance at $28.30 but lost momentum and declined towards the support at $27.75. Currently, silver remains in the range between the support at $27.75 and the resistance at $28.30.
If silver manages to settle above the resistance at $28.30, it will head towards the next resistance level which is located at $28.90. A move above this level will signal that silver will try to get to the test of the yearly highs near $30.15.
On the support side, a move below $27.75 will push silver towards the support at $27.50. If silver settles below this level, it will head towards the support at the 20 EMA at $27.25. A successful test of this level will open the way to the test of the support at $27.00.
If silver manages to settle above the resistance at $28.30, it will head towards the next resistance level which is located at $28.90. A move above this level will signal that silver will try to get to the test of the yearly highs near $30.15.
On the support side, a move below $27.75 will push silver towards the support at $27.50. If silver settles below this level, it will head towards the support at the 20 EMA at $27.25. A successful test of this level will open the way to the test of the support at $27.00.