Silver Tries To Settle Above $25.55
Today, silver made an attempt to get below the support at $25.00 but quickly rebounded. Currently, is trying to settle above the nearest resistance level at $25.55. If this attempt is successful, silver will get to the test of the resistance at $25.85. A move above this level will push silver towards the resistance at $26.30.
On the support side, a move below $25.55 will open the way to the test of the support at $25.30. If silver declines below this level, it will head towards the major support level at $25.00.
This support level has already been tested many times in recent trading sessions and proved its strength. Most likely, silver will gain significant downside momentum in case it settles below the support at $25.00. In this scenario, it will quickly get to the test of the next support level which is located at the 20 EMA at $24.80.
On the support side, a move below $25.55 will open the way to the test of the support at $25.30. If silver declines below this level, it will head towards the major support level at $25.00.
This support level has already been tested many times in recent trading sessions and proved its strength. Most likely, silver will gain significant downside momentum in case it settles below the support at $25.00. In this scenario, it will quickly get to the test of the next support level which is located at the 20 EMA at $24.80.
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