Silver Moves Higher As Dollar Declines
Silver settled above the resistance at $27.00 and is trying to get above the next resistance level at $27.50. In case this attempt is successful, silver will move towards the resistance at $27.75.
A successful test of this level will push silver towards the resistance at $28.30. If silver manages to settle above $28.30, it will head towards the resistance at $28.90.
On the support side, the previous resistance at $27.00 will serve as the first support level for silver. If silver declines below this level, it will move towards the support at the 20 EMA at $26.65. A move below this level will push silver towards the support which is located near the 50 EMA at $26.30.
A successful test of this level will push silver towards the resistance at $28.30. If silver manages to settle above $28.30, it will head towards the resistance at $28.90.
On the support side, the previous resistance at $27.00 will serve as the first support level for silver. If silver declines below this level, it will move towards the support at the 20 EMA at $26.65. A move below this level will push silver towards the support which is located near the 50 EMA at $26.30.
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