Silver Movement
For the 24 hours to 23:00 GMT, Silver declined 5.64% against the USD and closed at USD12.05 per ounce, tracking losses in gold prices.
In the Asian session, at GMT0400, the pair is trading at 11.99, with silver trading 0.46% lower against the USD from yesterday’s close.
The pair is expected to find support at 11.46, and a fall through could take it to the next support level of 10.93. The pair is expected to find its first resistance at 12.70, and a rise through could take it to the next resistance level of 13.41.
The white metal is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.
