Silver Found Support At $25.00
Silver failed to settle below the support at $25.00 and is currently trying to settle above the nearest resistance level at $25.20. In case this attempt is successful, silver will head towards the next resistance at $25.55.
A move above the resistance at $25.55 will push silver towards the low end of the recent trading range between $25.85 and $26.25. If silver manages to get above $25.85, it will find itself back into the $25.85 - $26.25 range.
On the support side, silver needs to get below $25.00 to continue its downside move. RSI is in the moderate territory, and there is plenty of room to gain downside momentum in case the right catalysts emerge.
If silver declines below the support at $25.00, it will head towards the next support level at $24.70. A move below the support at $24.70 will open the way to the test of the support at $24.50.
A move above the resistance at $25.55 will push silver towards the low end of the recent trading range between $25.85 and $26.25. If silver manages to get above $25.85, it will find itself back into the $25.85 - $26.25 range.
On the support side, silver needs to get below $25.00 to continue its downside move. RSI is in the moderate territory, and there is plenty of room to gain downside momentum in case the right catalysts emerge.
If silver declines below the support at $25.00, it will head towards the next support level at $24.70. A move below the support at $24.70 will open the way to the test of the support at $24.50.
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