Silver Movement
For the 24 hours to 23:00 GMT, Silver rose 0.39% against the USD and closed at USD16.72 per ounce, tracking gains in gold prices.
In the Asian session, at GMT0400, the pair is trading at 16.69, with silver trading 0.15% lower against the USD from yesterday’s close.
The pair is expected to find support at 16.62, and a fall through could take it to the next support level of 16.55. The pair is expected to find its first resistance at 16.77, and a rise through could take it to the next resistance level of 16.84.
The white metal is showing convergence with its 20 Hr and 50 Hr moving averages.
