Silver Movement
On Friday, Silver prices declined 3.21% to USD 16.72 per ounce during the period ending 21:00GMT, tracking heavy losses in gold prices.
In the Asian session, at GMT0400, the pair is trading at 16.71, with the silver trading flat from Friday’s close.
The pair is expected to find support at 16.38, and a fall through could take it to the next support level of 16.05. The pair is expected to find its first resistance at 17.20, and a rise through could take it to the next resistance level of 17.70.
The white metal is trading below its 20 Hr and 50 Hr moving averages.
