Silver Movement
Silver prices declined 2.92% to the USD23.03 per ounce during the 24 hours ending 23:00GMT, as investors refrained from taking major bets following a decline in the demand for industrial metals.
In the Asian session, at GMT0300, Silver is trading at 23.11, 0.37% higher from yesterday’s close.
Silver is expected to find support at 22.72, and a fall through could take it to the next support level of 22.32. Silver is expected to find its first resistance at 23.56, and a rise through could take it to the next resistance level of 24.01.
The white metal is showing convergence with its 20 Hr moving average and is trading below its 50 Hr moving average.
