- While silver is trading higher, the $ 27.80 resistance remains intact.
- A move above that level would confirm a breakout of the range.
Silver is trading near $ 27.55 at time of writing, up 0.87% on the day.
While the metal remains positive, it has yet to break above the $ 27.80 resistance (the high of the previous week).
A movement above that level would imply an upward break of the price range indicated by the candle of the previous week, whose maximum and minimum remained within the price range of the previous week.
Above $ 27.80, the focus would shift to $ 30.09, the high seen earlier that week. On the other hand, acceptance below the prior week’s low of $ 27.31 would put the bears in a dominant position, exposing support at $ 24.06, the highest low created on January 6.
Silver daily chart
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