Silver Movement
Silver prices rose 3.69% to the USD24.12 per ounce during the 24 hours ending 23:00GMT, on increased off-take by industrial units and firming global trend after China’s manufacturing sector marked an improvement for August.
In the Asian session, at GMT0300, Silver is trading at 24.15, 0.11% higher from yesterday’s close.
Silver is expected to find support at 23.79, and a fall through could take it to the next support level of 23.44. Silver is expected to find its first resistance at 24.48, and a rise through could take it to the next resistance level of 24.81.
The white metal is showing convergence with its 20 Hr moving average and is trading above its 50 Hr moving average.
