Silver gained strong upside momentum and is trying to settle above the resistance at $25.00. It has already tested the next resistance level at $25.30 but pulled back. If silver manages to settle above $25.00, it will get to another test of the resistance at $25.30 and should have better chances to settle above this level.
In case silver gets above the resistance at $25.30, it will move towards the next resistance at $25.55. RSI is in the moderate territory so there is plenty of room to gain additional momentum in case the right catalysts emerge. A successful test of the resistance at $25.55 will open the way to the test of the next resistance level at $25.85.
On the support side, the previous resistance at $24.60 will likely serve as the first support level for silver. A move below this level will push silver towards the next support level at the 50 EMA at $24.20.
In case silver gets above the resistance at $25.30, it will move towards the next resistance at $25.55. RSI is in the moderate territory so there is plenty of room to gain additional momentum in case the right catalysts emerge. A successful test of the resistance at $25.55 will open the way to the test of the next resistance level at $25.85.
On the support side, the previous resistance at $24.60 will likely serve as the first support level for silver. A move below this level will push silver towards the next support level at the 50 EMA at $24.20.
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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.