Silver Movement
Silver prices declined 2.37% to the USD 32.56 per ounce during the 24 hours ending 23:00GMT, as mounting concerns about the US economy and budget impasse reduced demand for the white metal.
In the Asian session, at GMT0400, Silver is trading at 32.55, flat from yesterday’s close.
Silver is expected to find support at 32.16, and a fall through could take it to the next support level of 31.77. Silver is expected to find its first resistance at 33.00, and a rise through could take it to the next resistance level of 33.45.
The white metal is showing convergence with its 20 Hr and trading below its 50 Hr moving average.
