Silver Movement
Silver prices rose 0.99% to the USD23.14 per ounce during the 24 hours ending 23:00GMT, as investors continued to cheer Fed’s decision to maintain the size of its monthly asset purchase programme at $85 billion. Additionally, an enhanced demand outlook of the industrial metals also contributed to a rise in the prices of the white metal.
In the Asian session, at GMT0300, Silver is trading at 22.98, 0.70% lower from yesterday’s close.
Silver is expected to find support at 22.74, and a fall through could take it to the next support level of 22.49. Silver is expected to find its first resistance at 23.32, and a rise through could take it to the next resistance level of 23.66.
The white metal is trading slightly below its 20 Hr moving average and above its 50 Hr moving averages.
