Silver Movement
Silver prices declined 0.17% to USD 32.09 per ounce during the 24 hours ending 23:00GMT, as investors sold off their positions over weak global economic trend.
In the Asian session, at GMT0300, Silver is trading at 32.12, slightly higher from yesterday’s close.
Silver is expected to find support at 31.50, and a fall through could take it to the next support level of 30.88. Silver is expected to find its first resistance at 32.62, and a rise through could take it to the next resistance level of 33.12.
The white metal is showing convergence with its 20 Hr and its 50 Hr moving averages.
