Silver gained strong upside momentum and is trying to settle above the resistance at $26.30. It has recently made several attempts to settle above this level but they were not successful.
This time, it looks like silver has good chances to settle above $26.30 and get to the test of the next resistance level at $27.00. RSI is still in the moderate territory so there is plenty of room to gain momentum in case the right catalysts emerge.
If silver gets above the resistance at $27.00, it will move towards the next resistance near the recent highs at $27.50. A move above $27.50 will push silver towards the resistance at $27.75.
On the support side, a move below $26.30 will open the way to the test of the support level at $25.85. In case silver settles below this level, it will quickly get to the test of the next support at $25.55.
This time, it looks like silver has good chances to settle above $26.30 and get to the test of the next resistance level at $27.00. RSI is still in the moderate territory so there is plenty of room to gain momentum in case the right catalysts emerge.
If silver gets above the resistance at $27.00, it will move towards the next resistance near the recent highs at $27.50. A move above $27.50 will push silver towards the resistance at $27.75.
On the support side, a move below $26.30 will open the way to the test of the support level at $25.85. In case silver settles below this level, it will quickly get to the test of the next support at $25.55.
