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.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.