Silver Moves Lower As Treasury Yields Rise
Silver did not manage to settle above the resistance at $26.30 and is testing the support level at the 50 EMA at $25.80. This support level has already been tested many times and proved its strength. However, silver had decent chances to get below this level as Treasury yields have moved higher in recent trading sessions.
If silver settles below the 50 EMA, it will move towards the support at $25.55. A move below this level will open the way to the test of the support at $25.30. In case silver declines below the support at $25.30, it will head towards the next support at $25.00.
On the upside, the nearest resistance level is located at $26.30. If silver manages to settle above this level, it will head towards the next resistance at $26.65. A successful test of this level will push silver towards the resistance at $27.00.
If silver settles below the 50 EMA, it will move towards the support at $25.55. A move below this level will open the way to the test of the support at $25.30. In case silver declines below the support at $25.30, it will head towards the next support at $25.00.
On the upside, the nearest resistance level is located at $26.30. If silver manages to settle above this level, it will head towards the next resistance at $26.65. A successful test of this level will push silver towards the resistance at $27.00.
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