Silver Movement
Silver prices rose 1.30% to USD 16.38 per ounce during the 24 hours ending 23:00GMT, tracking gains in gold prices.
In the Asian session, at GMT0400, the pair is trading at 16.345, with the silver trading 0.21% lower from yesterday’s close.
The pair is expected to find support at 16.21, and a fall through could take it to the next support level of 16.07. The pair is expected to find its first resistance at 16.46, and a rise through could take it to the next resistance level of 16.57.
The white metal is showing convergence with its 20 Hr and 50 Hr moving averages.
