Silver Managed To Settle Above The 20 EMA At $25.55
Silver managed to settle above the resistance at the 20 EMA at $25.55 and is trying to setttle above the next resistance level at $25.85. If silver manages to settle above this level, it will move towards the next resistance at $26.30. There are no important levels between $25.85 and $26.30 so silver may quickly get to the test of the resistance at $26.30.
RSI remains in the moderate territory, and there is plenty of room to gain additional momentum in case the right catalysts emerge. In case silver gets above $26.30, it will head towards the next resistance level at $26.75. A move above this level will push silver towards the next resistance at the $27 level.
On the support side, the previous resistance at the 20 EMA at $25.55 will likely serve as the first support level for silver. If silver declines below this level, it will get to the test of the next support at $25.30. The 50 EMA is located near $25.20 so silver may get significant support in the $25.20 - $25.30 area. A move below this support area will open the way to the test of the $25 level.
RSI remains in the moderate territory, and there is plenty of room to gain additional momentum in case the right catalysts emerge. In case silver gets above $26.30, it will head towards the next resistance level at $26.75. A move above this level will push silver towards the next resistance at the $27 level.
On the support side, the previous resistance at the 20 EMA at $25.55 will likely serve as the first support level for silver. If silver declines below this level, it will get to the test of the next support at $25.30. The 50 EMA is located near $25.20 so silver may get significant support in the $25.20 - $25.30 area. A move below this support area will open the way to the test of the $25 level.
