Silver Stays Near The Key Support At $25.85
Silver continues its attempts to settle below the nearest support level at $25.85. Silver has recently made an attempt to settle below this level but lost momentum and rebounded closer to the $26 level.
If silver declines below $25.85, it will head towards the next support level which is located at $25.55. A move below the support at $25.55 will open the way to the test of the support at $25.20. In case silver gets below this level, it will continue its downside move and get to the test of the next support level at $25.00.
On the upside, the nearest resistance level for silver is located at the 50 EMA at $26.45. If silver settles above this level, it will head towards the next resistance at $26.70. A move above the resistance at $26.70 will push silver towards the 20 EMA at $26.85.
If silver declines below $25.85, it will head towards the next support level which is located at $25.55. A move below the support at $25.55 will open the way to the test of the support at $25.20. In case silver gets below this level, it will continue its downside move and get to the test of the next support level at $25.00.
On the upside, the nearest resistance level for silver is located at the 50 EMA at $26.45. If silver settles above this level, it will head towards the next resistance at $26.70. A move above the resistance at $26.70 will push silver towards the 20 EMA at $26.85.