Another Attempt To Settle Above Key Resistance At $26.30
Silver gained upside momentum at the start of the week and is trying to settle above the major resistance at $26.30. RSI is in the moderate territory, and there is plenty of room to gain additional momentum in case the right catalysts emerge.
In case silver settles above $26.30, it will get to the test of the next resistance level at $26.65. A move above this level will open the way to the test of the resistance at $27.00. If silver settles above $27.00, it will head towards the next resistance level which is located at $27.50.
On the support side, a move below $26.30 will push silver back into the previous trading range between the support at the 50 EMA at $25.85 and the resistance at $26.30.
If silver declines below the 50 EMA, it will head 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 settles above $26.30, it will get to the test of the next resistance level at $26.65. A move above this level will open the way to the test of the resistance at $27.00. If silver settles above $27.00, it will head towards the next resistance level which is located at $27.50.
On the support side, a move below $26.30 will push silver back into the previous trading range between the support at the 50 EMA at $25.85 and the resistance at $26.30.
If silver declines below the 50 EMA, it will head towards the support at $25.55. A move below this level will open the way to the test of the support at $25.30.
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.