Silver Movement
Silver prices declined 1.44% to the USD19.59 per ounce during the 24 hours ending 23:00GMT, in line with fall in gold prices as the dollar strengthened after a batch of upbeat economic data supported the Fed plan to start reducing stimulus this year.
In the Asian session, at GMT0300, Silver is trading at 19.66, 0.38% higher from yesterday’s close.
Silver is expected to find support at 19.48, and a fall through could take it to the next support level of 19.30. Silver is expected to find its first resistance at 19.92, and a rise through could take it to the next resistance level of 20.18.
The white metal is showing convergence with its 20 Hr moving average and is trading just below its 50 Hr moving average.
