Silver Movement
Silver prices declined 2.63% to USD21.29 per ounce during the 24 hours ending 23:00GMT, amid broad gains in the US Dollar.
In the Asian session, at GMT0400, Silver is trading at 21.10, 0.91% lower from yesterday’s close.
Traders await the Fed Chief, Janet Yellen’s speech for further insight on the central bank’s tapering plans.
Silver is expected to find support at 20.71, and a fall through could take it to the next support level of 20.33. Silver is expected to find its first resistance at 21.77, and a rise through could take it to the next resistance level of 22.44.
The white metal is trading below its 20 Hr and 50 Hr moving averages.
