Silver Tests Support At The 50 EMA At $25.80
Silver failed to settle above the resistance at $26.30 and pulled back closer to the support level which is located at the 50 EMA at $25.80. The 20 EMA is located at the same level, so silver will likely get material support in the $25.75 - $25.85 area.
A move below this support area will open the way to the test of the next support at $25.55. If silver manages to settle below the support at $25.55, it will head towards the support at $25.30.
On the upside, silver needs to settle above the resistance at $26.30 to have a chance to develop upside momentum in the near term. A move above this level will push silver towards the next resistance level at $26.65. In case silver settles above $26.65, it will head towards the resistance at $27.00.
A move below this support area will open the way to the test of the next support at $25.55. If silver manages to settle below the support at $25.55, it will head towards the support at $25.30.
On the upside, silver needs to settle above the resistance at $26.30 to have a chance to develop upside momentum in the near term. A move above this level will push silver towards the next resistance level at $26.65. In case silver settles above $26.65, it will head towards the resistance at $27.00.
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.