Silver Movement
Silver prices rose 3.73% to USD 44.52 per ounce during the 24 hours ending 23:00GMT, recouping a part of its recent losses, which saw it plunge more than 10.0%, following a rise in margins required to hold positions in the metal in the US metals futures exchange.
In the Asian session at 3:00GMT, silver is trading at USD 44.98 per ounce, 1.03% higher, from 23:00GMT.
The first level of short term resistance on the upside is at 47.20, followed by 49.43. The pair is expected to find support at 42.91, with the subsequent support level at 40.85.
The white metal is showing convergence with its 20 Hr moving average and is trading just below its 50 Hr moving average.
