Silver Movement
Silver prices declined 0.96% to USD 19.06 per ounce during the 24 hours ending 23:00GMT, as improving growth-outlook of the US economy and a decline in demand for industrial metals weighed on the demand outlook of the white metal.
In the Asian session, at GMT0300, Silver is trading at 19.04, 0.13% lower from yesterday’s close.
Silver is expected to find support at 18.74, and a fall through could take it to the next support level of 18.45. Silver is expected to find its first resistance at 19.28, and a rise through could take it to the next resistance level of 19.52.
The white metal is showing convergence with its 20 Hr moving average and is trading below its 50 Hr moving average.
