Silver Tests Resistance At $26.25
Silver failed to settle below the support at $25.85 and rebounded towards the nearest resistance level at the 50 EMA at $26.25. The 20 EMA is located in the nearby, so the resistance at $26.25 is set to be a material obstacle on the way up for silver.
RSI remains in the moderate territory so there is plenty of room to gain additional upside momentum in case the right catalysts emerge. If silver manages to settle above the 50 EMA, it will head towards the next resistance at $26.70. A move above this level will open the way to the test of the resistance at $27.00.
On the support side, the nearest support level for silver is still located at $25.85. If silver declines below this level, it will head towards the next support at $25.55. A move below the support at $25.55 will push silver towards the support at $25.20.
RSI remains in the moderate territory so there is plenty of room to gain additional upside momentum in case the right catalysts emerge. If silver manages to settle above the 50 EMA, it will head towards the next resistance at $26.70. A move above this level will open the way to the test of the resistance at $27.00.
On the support side, the nearest support level for silver is still located at $25.85. If silver declines below this level, it will head towards the next support at $25.55. A move below the support at $25.55 will push silver towards the support at $25.20.
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