Silver Movement
On Friday, Silver prices rose 2.97% to the USD23.87 per ounce during the period ending 21:00GMT, as a weakness in the dollar lured investors to demand more of the dollar-denominated commodity.
In the Asian session, at GMT0300, Silver is trading at 23.79, 0.33% lower from Friday’s close.
Silver is expected to find support at 23.18, and a fall through could take it to the next support level of 22.56. Silver is expected to find its first resistance at 24.28, and a rise through could take it to the next resistance level of 24.77.
The white metal is showing convergence with its 20 Hr moving average and is trading above its 50 Hr moving average.
