Silver Movement
Silver prices jumped 4.52% to USD 20.82 per ounce during the 24 hours ending 23:00GMT, as the traders digested Wednesday’s decision of Fed to slash its 2014 growth-outlook on the US economy and to delay its process of hiking its key interest rates.
In the Asian session, at GMT0300, Silver is trading at 20.69, 0.60% lower from yesterday’s close.
Silver is expected to find support at 20.04, and a fall through could take it to the next support level of 19.39. Silver is expected to find its first resistance at 21.13, and a rise through could take it to the next resistance level of 21.58.
The white metal is trading above its 20 Hr and 50 Hr moving averages.
