A Very Volatile Trading Session For Silver
Silver had a very volatile trading session today. It tested the support at $25.00 and got close to the resistance at $27.50. Levels inside this range were mostly ignored but they will be back in play once the situation calms down a bit.
The nearest support level for silver is located at $25.85. If silver declines below this level, it will get to the test of the next support at $25.55. A move below $25.55 will push silver towards the support at $25.30. In case silver gets below the support at $25.30, it will head towards the recent lows at $25.00.
On the upside, silver needs to get above the resistance at $26.30 to continue its upside move. The next resistance level is located at $27.00. If silver manages to settle above $27.00, it will gain additional upside momentum and move towards the next resistance level near the recent highs at $27.50.
The nearest support level for silver is located at $25.85. If silver declines below this level, it will get to the test of the next support at $25.55. A move below $25.55 will push silver towards the support at $25.30. In case silver gets below the support at $25.30, it will head towards the recent lows at $25.00.
On the upside, silver needs to get above the resistance at $26.30 to continue its upside move. The next resistance level is located at $27.00. If silver manages to settle above $27.00, it will gain additional upside momentum and move towards the next resistance level near the recent highs at $27.50.
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