Silver is currently testing the resistance level at $25.30. If this test is successful, silver will move towards the next resistance level which is located at the 20 EMA at $25.55.
A successful test of the resistance at $25.55 will open the way to the test of the resistance level at $25.85. In case silver manages to get above $25.85, it will head towards the resistance at $26.30. No important levels were formed between $25.85 and $26.30 so this move may be fast.
On the support side, silver must settle below the 50 EMA at $25.15 to have a chance to develop downside momentum in the near term. The next support level is located at $25.00.
In case silver declines below this level, it will move towards the support at $24.70. If silver manages to settle below the support at $24.70, it will head towards the next support at $24.50.
A successful test of the resistance at $25.55 will open the way to the test of the resistance level at $25.85. In case silver manages to get above $25.85, it will head towards the resistance at $26.30. No important levels were formed between $25.85 and $26.30 so this move may be fast.
On the support side, silver must settle below the 50 EMA at $25.15 to have a chance to develop downside momentum in the near term. The next support level is located at $25.00.
In case silver declines below this level, it will move towards the support at $24.70. If silver manages to settle below the support at $24.70, it will head towards the next support at $24.50.
