Silver Movement
Silver prices declined 5.58% to USD 16.99 per ounce during the 24 hours ending 23:00GMT, tracking heavy losses in gold prices.
In the Asian session, at GMT0400, the pair is trading at 16.94, with the silver trading 0.29% lower from yesterday’s close.
The pair is expected to find support at 16.47, and a fall through could take it to the next support level of 16.00. The pair is expected to find its first resistance at 17.68, and a rise through could take it to the next resistance level of 18.42.
The white metal is trading below its 20 Hr and 50 Hr moving averages.
