Silver is testing the nearest support level at $25.85. if this test is successful, silver will head towards the next support level at $25.55. RSI is in the moderate territory so there is plenty of room to gain additional downside momentum in case the right catalysts emerge.
If silver settles below $25.55, it will move towards the next support at $25.30. A move below this level will push silver towards the support at the recent lows at $25.00. This support level has recently proved its strength so silver will likely need additional catalysts to settle below $25.00.
On the upside, silver needs to settle above $25.85 to develop upside momentum. The next resistance level is located at $26.30. Today, silver made an attempt to settle above this level but this attempt yielded no results. If silver gets above $26.30, it will head towards the next resistance level at $27.00.
If silver settles below $25.55, it will move towards the next support at $25.30. A move below this level will push silver towards the support at the recent lows at $25.00. This support level has recently proved its strength so silver will likely need additional catalysts to settle below $25.00.
On the upside, silver needs to settle above $25.85 to develop upside momentum. The next resistance level is located at $26.30. Today, silver made an attempt to settle above this level but this attempt yielded no results. If silver gets above $26.30, it will head towards the next resistance level at $27.00.
