Silver Tries To Move Higher In Holiday-Thinned Trading
Today, silver made an attempt to settle above the resistance at $25.85 but failed to develop sufficient upside momentum and pulled back towards the nearest support level at $25.55.
If silver settles below the support at $25.55, it will move towards the next support level at $25.30. A successful test of the support at $25.30 will push silver towards the next support level at $25.00.
On the upside, silver needs to settle above the resistance at $25.85 to have a chance to develop additional upside momentum. If silver gets above this level, it will head towards the resistance at $26.30.
It should be noted that silver does not have good chances to develop strong momentum during today's trading session due to low trading activity, so any material moves will likely take place during the next week.
If silver settles below the support at $25.55, it will move towards the next support level at $25.30. A successful test of the support at $25.30 will push silver towards the next support level at $25.00.
On the upside, silver needs to settle above the resistance at $25.85 to have a chance to develop additional upside momentum. If silver gets above this level, it will head towards the resistance at $26.30.
It should be noted that silver does not have good chances to develop strong momentum during today's trading session due to low trading activity, so any material moves will likely take place during the next week.
