Silver Movement
Silver prices rose 1.33% to USD 19.04 per ounce during the 24 hours ending 23:00GMT, following ECB’s decision to cut its key interest rates and introduce a new stimulus package in order to ward off deflation threats in the Euro-zone economy.
In the Asian session, at GMT0300, Silver is trading at 19.06, 0.13% higher from yesterday’s close.
Silver is expected to find support at 18.77, and a fall through could take it to the next support level of 18.48. Silver is expected to find its first resistance at 19.25, and a rise through could take it to the next resistance level of 19.45.
The white metal is trading above its 20 Hr and 50 Hr moving averages.
