Silver tested the resistance at $27.75 but failed to settle above this level and declined below $27.50. The nearest support level for silver is located at $27.00, and silver is currently testing this level.
In case silver gets below this level, it will head towards the next support level at $26.70. A move below this level will push silver towards the support at $26.30.
On the upside, silver needs to get back above the resistance at $27.50 to have a chance to gain upside momentum. RSI returned to the moderate territory so there is plenty of room to gain additional momentum.
The next resistance level is located at $27.75. If silver manages to settle above this level, it will move towards the resistance at $28.30.
In case silver gets below this level, it will head towards the next support level at $26.70. A move below this level will push silver towards the support at $26.30.
On the upside, silver needs to get back above the resistance at $27.50 to have a chance to gain upside momentum. RSI returned to the moderate territory so there is plenty of room to gain additional momentum.
The next resistance level is located at $27.75. If silver manages to settle above this level, it will move towards the resistance at $28.30.
