Silver Movement
Silver prices declined 2.57% to USD 34.91 per ounce during the 24 hours ending 23:00GMT, as concerns over an economic slowdown in China and the absence of several major European markets, including Germany, France, Switzerland and Spain due to holiday, weighed on investor sentiment.
In the Asian session at 3:00GMT, silver is trading at USD 35.01 per ounce, 0.29% higher, from 23:00GMT.
The first level of short term resistance on the upside is at 35.96, followed by 36.92. The pair is expected to find support at 34.29, with the subsequent support level at 33.58.
The pair is showing convergence with its 20 Hr moving average and is trading just below its 50 Hr moving average.
