Silver managed to get above the resistance at $27.50 and is trying to settle above the next resistance level which is located at $27.75. If silver gets above this level, it will head towards the next resistance at $28.30.
RSI is in the moderate territory, and there is plenty of room to gain additional momentum in case the right catalysts emerge. In case silver settles above the resistance at $28.30, it will move towards the next resistance level at $28.90.
On the support side, the previous resistance at $27.50 will likely serve as the first support level for silver. If silver declines below this level, it will head towards the support at the 20 EMA at $27.00. A move below this level will push silver towards the support at $26.70.
RSI is in the moderate territory, and there is plenty of room to gain additional momentum in case the right catalysts emerge. In case silver settles above the resistance at $28.30, it will move towards the next resistance level at $28.90.
On the support side, the previous resistance at $27.50 will likely serve as the first support level for silver. If silver declines below this level, it will head towards the support at the 20 EMA at $27.00. A move below this level will push silver towards the support at $26.70.