Silver gained strong upside momentum and managed to settle above the resistance at $25.85. Currently, silver is testing the next resistance level at $26.30. If this test is successful, silver will move towards the next resistance level which is located at $26.70. RSI is in the moderate territory, and there is plenty of room to gain additional upside momentum in case the right catalysts emerge.
If silver settles above $26.70, it will head towards the next resistance at $27.00. A successful test of the resistance at $27.00 will open the way to the test of the resistance level at $27.20.
On the support side, the previous resistance at $25.85 will likely serve as the first material support level for silver. If silver declines below this level, it will head towards the next support at the 20 EMA at $25.60. A successful test of the support at the 20 EMA will open the way to the test of the next support level at the 50 EMA at $25.30.
If silver settles above $26.70, it will head towards the next resistance at $27.00. A successful test of the resistance at $27.00 will open the way to the test of the resistance level at $27.20.
On the support side, the previous resistance at $25.85 will likely serve as the first material support level for silver. If silver declines below this level, it will head towards the next support at the 20 EMA at $25.60. A successful test of the support at the 20 EMA will open the way to the test of the next support level at the 50 EMA at $25.30.