Silver Movement
Silver prices declined 0.52% to USD20.13 per ounce during the 24 hours ending 23:00GMT. In a report published on Wednesday, one of the leading brokering houses trimmed its 2014 prices forecast on the white metal by 20% (YoY), expecting the metal prices to average about $19 per ounce, next year.
In the Asian session, at GMT0400, Silver is trading at 20.12, marginally lower from yesterday’s close.
Silver is expected to find support at 19.98, and a fall through could take it to the next support level of 19.84. Silver is expected to find its first resistance at 20.26, and a rise through could take it to the next resistance level of 20.40.
The white metal is showing convergence with its 20 Hr and 50 Hr moving averages.
