Key Takeaways:
- Immediate resistance levels at $28.90, $29.79, and $30.46
- Support levels at $27.21, $26.33, and $25.62
- Break below $27.82 may trigger a selling trend
- 50-day EMA at $27.601 and 200-day EMA at $25.626 supporting upward trend
Silver Price Levels Analysis
The current silver price levels show immediate resistance at $28.90, with higher barriers at $29.79 and $30.46. On the downside, support levels are established at $27.21, with further safeguards at $26.33 and $25.62. Breaking below the crucial $27.82 mark could potentially trigger a selling trend, changing the current bullish narrative.
Technical indicators, such as the 50-day Exponential Moving Average (EMA) at $27.601 and the 200-day EMA at $25.626, support the upward trend. While Silver is poised for further gains above $27.82, breaching this critical threshold might lead to a significant reversal in the upward momentum.