Silver Tested Support At $25.85
Silver had recently made an attempt to settle below the support level at $25.85 but lost momentum and rebounded towards the resistance at the 50 EMA at $26.45. In case silver manages to settle above this level, it will move towards the next resistance which is located at $26.70.
A move above the resistance at $26.70 will push silver towards the next resistance at the 20 EMA at $27.00. If silver gets above the 20 EMA, it will gain additional upside momentum and head towards the resistance at $27.50.
On the support side, silver needs to settle back below the support at $26.30 to have a chance to get to another test of the support at $25.85. If silver settles below the support at $25.85, it will head towards the support at $25.55. A successful test of the support at $25.55 will open the way to the test of the next support level which is located at $25.20.
A move above the resistance at $26.70 will push silver towards the next resistance at the 20 EMA at $27.00. If silver gets above the 20 EMA, it will gain additional upside momentum and head towards the resistance at $27.50.
On the support side, silver needs to settle back below the support at $26.30 to have a chance to get to another test of the support at $25.85. If silver settles below the support at $25.85, it will head towards the support at $25.55. A successful test of the support at $25.55 will open the way to the test of the next support level which is located at $25.20.
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