- Silver stays above two-week-old resistance line as Good Friday stops bulls.
- Horizontal resistance, another descending trend line can test buyers even as momentum favors them.
Silver’s upside break of a short-term resistance line, now support, teases weekly top of $25.10. The run-up also gains support from strong momentum, favoring the bulls.
It should, however, be noted that a horizontal area from March 12 and a five-week-long descending resistance line, respectively around $25.40 and $25.55, stay firm to test the silver buyers.
In a case where the white metal rallies beyond $25.55, the $26.00 threshold and March 18 top near $26.65 will be in the spotlight.
Meanwhile, pullback moves below the previous resistance line, around $24.30, will eye the $24.00 round-figure and March low near $23.75.
Overall, silver’s corrective pullback needs validation to recall the buyers.
Silver four-hour chart
Trend: Further recovery expected
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