Silver managed to get below the $27 level and is currently testing the support at $26.70. In case silver manages to settle below this level, it will head towards the next support at the 50 EMA at $26.45. RSI remains in the moderate territory, and there is plenty of room to gain additional downside momentum in case the right catalysts emerge.
If silver declines below the support at the 50 EMA at $26.45, it will move towards the next support at $25.85. It remains to be seen whether any levels will present themselves between $25.85 and $26.45.
On the upside, a move above the $27 level will push silver towards the 20 EMA at $27.15. A move above this level will open the way to the test of the next resistance at $27.50. In case silver settles above $27.50, it will head towards the resistance at $27.75.
If silver declines below the support at the 50 EMA at $26.45, it will move towards the next support at $25.85. It remains to be seen whether any levels will present themselves between $25.85 and $26.45.
On the upside, a move above the $27 level will push silver towards the 20 EMA at $27.15. A move above this level will open the way to the test of the next resistance at $27.50. In case silver settles above $27.50, it will head towards the resistance at $27.75.