With silver’s price chart showing an inside day, the market seems unconvinced. Currently, prices are positioned to face resistance at the 10-day moving average, which sits at $22.91. If prices fall to 22.03, support may be found there. Short-term momentum is now positive as the fast stochastic produced a buy signal at the crossing point.
The support rests at 22.516 with resistance at 22.652. The pivot point at 22.607 is located above the price line. The EMA of 10 is moving with horizontal trend and it is below EMA of 200 and the EMA of 100. The Stochastic is moving in high ranges. The RSI is moving around the level of 50 and the ADX is moving horizontally and not showing a clear signal. The MACD histogram is in negative territory.

• There is resistance at 22.652, followed by resistance at 22.743 and 22.788.
• There is support at 22.516. Below, there is 22.471 and 22.380.

Note: We do not suggest any investment advice, and these analyses are just to increase the traders’ awareness but not a certain instruction for trading.

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