Silver Movement
Silver prices declined 1.67% to the USD 19.86 per ounce during the 24 hours ending 23:00GMT, after an impressive housing data from the US, raised speculations that the tapering may become a likely outcome in the near future.
In the Asian session, at GMT0400, Silver is trading at 19.92, 0.30% higher from yesterday’s close.
Silver is expected to find support at 19.74, and a fall through could take it to the next support level of 19.56. Silver is expected to find its first resistance at 20.17, and a rise through could take it to the next resistance level of 20.42.
The white metal is showing convergence with its 20 Hr and 50 Hr moving averages.
