Silver Movement
Silver prices declined 0.48% to the USD21.69 per ounce during the 24 hours ending 23:00GMT.
In a noteworthy event, a five-year investigation by the US Commodity Futures Trading Commission (CFTC) into alleged manipulation of the silver market, accusing big banks of using futures and options to hold prices down, came to end yesterday, as the CFTC concluded that there was no evidence of wrongdoing.
In the Asian session, at GMT0300, Silver is trading at 21.63, 0.27% lower from yesterday’s close.
Silver is expected to find support at 21.40, and a fall through could take it to the next support level of 21.17. Silver is expected to find its first resistance at 21.98, and a rise through could take it to the next resistance level of 22.34.
The white metal is trading just below its 20 Hr and 50 Hr moving averages.
