Silver Movement
Silver prices declined 2.25% to USD 16.55 per ounce during the 24 hours ending 23:00GMT, tracking losses in gold prices.
In the Asian session, at GMT0300, the pair is trading at 16.56, with the silver trading 0.06% lower from yesterday’s close.
The pair is expected to find support at 16.28, and a fall through could take it to the next support level of 16.03. The pair is expected to find its first resistance at 16.85, and a rise through could take it to the next resistance level of 17.17.
The white metal is showing convergence with its 20 Hr moving average and is trading below its 50 Hr moving average.
