Silver Movement
Silver prices declined 4.77% to USD 16.48 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 16.43, with the silver trading 0.27% lower from yesterday’s close.
The pair is expected to find support at 16.04, and a fall through could take it to the next support level of 15.64. The pair is expected to find its first resistance at 17.05, and a rise through could take it to the next resistance level of 17.65.
The white metal is trading below its 20 Hr and 50 Hr moving averages.
