Silver Movement
For the 24 hours to 23:00 GMT, Silver rose 0.86% against the USD and closed at USD17.05 per ounce, tracking gains in gold prices.
In the Asian session, at GMT0400, the pair is trading at 17.04, with silver trading 0.06% lower against the USD from yesterday’s close.
The pair is expected to find support at 16.95, and a fall through could take it to the next support level of 16.85. The pair is expected to find its first resistance at 17.14, and a rise through could take it to the next resistance level of 17.23.
The white metal is showing convergence with its 20 Hr and 50 Hr moving averages.
