Silver managed to get above the resistance at $25.30 and is trying to settle above the next resistance level at the 20 EMA at $25.55. In case silver manages to settle above this level, it will head towards the next resistance at $25.85.
A move above this level will push silver towards the resistance at $26.30. There are no important levels between $25.85 and $26.30, and previous moves in this area were fast.
On the support side, the previous resistance level at $25.30 will likely serve as the first support level for silver. The next support level is located at the 20 EMA at $25.20. If silver declines below the 20 EMA, it will get to the test of the next support level at $25.00. This support level has already been tested during the current trading session and proved its strength so silver may need additional catalysts to settle below $25.00.
A move above this level will push silver towards the resistance at $26.30. There are no important levels between $25.85 and $26.30, and previous moves in this area were fast.
On the support side, the previous resistance level at $25.30 will likely serve as the first support level for silver. The next support level is located at the 20 EMA at $25.20. If silver declines below the 20 EMA, it will get to the test of the next support level at $25.00. This support level has already been tested during the current trading session and proved its strength so silver may need additional catalysts to settle below $25.00.
