Silver Tested Support At $24.50
Silver has recently made an attempt to settle below $25.00 but received support at $24.50 and rebounded back to the $25 level. If silver manages to settle below $25.00, it will get to another test of the support at $24.70.
In case silver declines below the support at $24.70, it will head towards the next support level at $24.50. A move below this level will open the way to the test of the support at $24.20.
On the upside, the nearest resistance level for silver is located at $25.20. If silver manages to settle above this level, it will head towards the next resistance at $25.55. A move above the resistance at $25.55 will push silver towards the next resistance level which is located at the low end of the recent trading range at $25.85.
In case silver declines below the support at $24.70, it will head towards the next support level at $24.50. A move below this level will open the way to the test of the support at $24.20.
On the upside, the nearest resistance level for silver is located at $25.20. If silver manages to settle above this level, it will head towards the next resistance at $25.55. A move above the resistance at $25.55 will push silver towards the next resistance level which is located at the low end of the recent trading range at $25.85.
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