Siver Failed To Settle Below $27.00
Silver continues to trader near the support level at $27.00. Silver has already made several attempts to settle below this level in recent trading sessions but failed to develop sufficient downside momentum.
If silver settles below the support at $27.00, it will head towards the next support level at $26.70. A move below this level will push silver towards the support at the 20 EMA at $26.60.
In case silver declines below the 20 EMA, it will move towards the next support level at $26.30. A successful test of this level will open the way to the test of the support at the 50 EMA at $25.95.
On the upside, silver needs to stay above the support level at $27.00 to have a chance to develop upside momentum in the near term. The next resistance level for silver is located at $27.50. A move above this level open the way to the test of the next resistance at $27.75.
If silver settles below the support at $27.00, it will head towards the next support level at $26.70. A move below this level will push silver towards the support at the 20 EMA at $26.60.
In case silver declines below the 20 EMA, it will move towards the next support level at $26.30. A successful test of this level will open the way to the test of the support at the 50 EMA at $25.95.
On the upside, silver needs to stay above the support level at $27.00 to have a chance to develop upside momentum in the near term. The next resistance level for silver is located at $27.50. A move above this level open the way to the test of the next resistance at $27.75.
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.