Silver Movement
Silver prices declined 2.71% to the USD23.67 per ounce during the 24 hours ending 23:00GMT, as demand for the industrial metal reduced following a drop in the US and Chinese manufacturing PMI and in tandem with the slump in commodity prices.
In the Asian session, at GMT0300, Silver is trading at 23.56, 0.47% lower from yesterday’s close.
Silver is expected to find support at 23.09, and a fall through could take it to the next support level of 22.62. Silver is expected to find its first resistance at 24.18, and a rise through could take it to the next resistance level of 24.80.
The white metal is trading below its 20 Hr and 50 Hr moving averages.
