Silver Movement
For the 24 hours to 23:00 GMT, Silver rose 8.93% against the USD and closed at USD29.53 per ounce.
In the Asian session, at GMT0300, the pair is trading at 28.96, with silver trading 1.93% lower against the USD from yesterday’s close.
The pair is expected to find support at 27.34, and a fall through could take it to the next support level of 25.72. The pair is expected to find its first resistance at 30.25, and a rise through could take it to the next resistance level of 31.53.
The white metal is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
