Silver has recently made an attempt to settle below the support at the 50 EMA at $25.25 but failed to develop additional upside momentum and rebounded closer to the resistance at the 20 EMA at $25.55.
If silver manages to settle above the 20 EMA, it will move towards the next resistance level at $25.85. A successful test of this level will likely provide silver with an additional boost and push it towards the next resistance at $26.30.
On the support side, silver needs to settle below the 50 EMA to have a chance to develop downside momentum in the near term. The next support level is located at $25.00. If silver declines below the support at $25.00, it will head towards the next support level at $24.70.
If silver manages to settle above the 20 EMA, it will move towards the next resistance level at $25.85. A successful test of this level will likely provide silver with an additional boost and push it towards the next resistance at $26.30.
On the support side, silver needs to settle below the 50 EMA to have a chance to develop downside momentum in the near term. The next support level is located at $25.00. If silver declines below the support at $25.00, it will head towards the next support level at $24.70.