Silver Movement
Silver prices declined 0.40% to USD 21.87 per ounce during the 24 hours ending 23:00GMT. However, demand for haven assets following a weak US consumer confidence data, kept the commodity’s losses in check.
In the Asian session, at GMT0400, Silver is trading at 21.91, 0.21% higher from yesterday’s close.
Silver is expected to find support at 21.72, and a fall through could take it to the next support level of 21.53. Silver is expected to find its first resistance at 22.06, and a rise through could take it to the next resistance level of 22.22.
The white metal is showing convergence with its 20 Hr and 50 Hr moving averages.
