Silver Movement
For the 24 hours to 23:00 GMT, Silver declined 0.75% against the USD and closed at USD16.58, tracking losses in gold prices.
In the Asian session, at GMT0400, the pair is trading at 16.46, with the silver trading 0.69% lower from yesterday’s close.
The pair is expected to find support at 16.23, and a fall through could take it to the next support level of 16. The pair is expected to find its first resistance at 16.76, and a rise through could take it to the next resistance level of 17.06.
The white metal is trading below its 20 Hr and 50 Hr moving averages.
