Silver Movement
Silver prices declined 2.39% to the USD21.16 per ounce during the 24 hours ending 23:00GMT, as a decline in the prices of the industrial metals weighed on the demand prospects of the commodity.
In the Asian session, at GMT0300, Silver is trading at 21.18, 0.06% higher from yesterday’s close.
Silver is expected to find support at 20.55, and a fall through could take it to the next support level of 19.91. Silver is expected to find its first resistance at 21.89, and a rise through could take it to the next resistance level of 22.59.
The white metal is showing convergence with its 20 Hr moving average and is trading below its 50 Hr moving average.
