Silver Movement
On Friday, Silver prices rose 1.37% to the USD22.20 per ounce during the period ending 21:00GMT, as a weakness in the US dollar enhanced the demand outlook of the dollar-denominated metal.
In the Asian session, at GMT0300, Silver is trading at 22.13, 0.30% lower from Friday’s close.
Silver is expected to find support at 21.56, and a fall through could take it to the next support level of 20.99. Silver is expected to find its first resistance at 22.55, and a rise through could take it to the next resistance level of 22.96.
The white metal is trading above its 20 Hr moving average and is showing convergence with its 50 Hr moving average.
