Silver prices declined 5.41% to the USD21.90 per ounce during the 24 hours ending 23:00GMT, as a stronger dollar and soft demand for industrial metals weighed on the demand prospect of the white metal.

In the Asian session, at GMT0300, Silver is trading at 22.07, 0.78% higher from yesterday’s close.

Silver is expected to find support at 21.50, and a fall through could take it to the next support level of 20.93. Silver is expected to find its first resistance at 22.87, and a rise through could take it to the next resistance level of 23.68.

The white metal is trading below its 20 Hr and 50 Hr moving averages.

Credit (GCI Financial)

0 comments:

Post a Comment

 
Top