Silver's Support At $25.00 Remains Strong
Silver is currently testing the nearest support level at $25.00. While silver lost a lot of ground in recent trading sessions, RSI remains in the moderate territory, and there is plenty of room to gain additional downside momentum in case the right catalysts emerge.
If silver declines below the support at $25.00, it will move towards the next support level at $24.70. A successful test of the support at $24.70 will open the way to the test of the next support level at $24.50.
On the upside, the nearest resistance level for silver is located at $25.20. If silver gets above this level, it will head towards the next resistance at $25.55. A move above $25.55 will push silver towards the recent highs near $25.85.
If silver declines below the support at $25.00, it will move towards the next support level at $24.70. A successful test of the support at $24.70 will open the way to the test of the next support level at $24.50.
On the upside, the nearest resistance level for silver is located at $25.20. If silver gets above this level, it will head towards the next resistance at $25.55. A move above $25.55 will push silver towards the recent highs near $25.85.