Silver Movement
Silver prices slumped 11.92% to the USD22.88 per ounce during the 24 hours ending 23:00GMT, in line with the decline in commodity prices and concerns over demand for industrial metals following disappointing Chinese economic data.
In the Asian session, at GMT0300, Silver is trading at 22.64, 1.04% lower from yesterday’s close.
Silver is expected to find support at 21.51, and a fall through could take it to the next support level of 20.39. Silver is expected to find its first resistance at 24.32, and a rise through could take it to the next resistance level of 26.01.
The white metal is trading below its 20 Hr and 50 Hr moving averages.
