Silver Movement
On Friday, Silver prices declined 5.79% to the USD21.80 per ounce for the period ending 21:00GMT, as fall in the prices of the industrial metal and tapering comments from St. Louis Fed Chief, James Bullard, triggered a decline in the prices of the dollar-denominated commodity.
In the Asian session, at GMT0300, Silver is trading at 21.48, 1.45% lower from Friday’s close.
Silver is expected to find support at 20.83, and a fall through could take it to the next support level of 20.18. Silver is expected to find its first resistance at 22.60, and a rise through could take it to the next resistance level of 23.72.
The white metal is trading below its 20 Hr and 50 Hr moving averages.
