Silver - 4 Hourly

Silver trying to consolidate after Friday's retracement. Support is at $25.16 whereas resistance is at $25.74.

Silver trying to find a support point in order to consolidate after Friday’s retracement. Currently trading at around $25.53 an ounce, support sits at $25.32 followed by $25.16 (white trendline). A break and close below the white trendline could see the price fall lower towards the key support along the red trendline ($24.57). On the other hand, as the bias remains bullish, resistance sits at $25.74 and followed by this is the high from last Thursday of $26.13 (green trendline). A break above the green trendline may see a stretch as high as $27 an ounce. Looking at the technical indicators, MACD does still indicate negative momentum, however, the RSI is now neutral as it reads 49.