Analysis | Commodity Market Commentaries |
Written by GCI Financial |
Thu Apr 20 17 01:52 ET
For the 24 hours to 23:00 GMT, Silver declined 0.85% against the USD and closed at USD18.14 per ounce, tracking losses in gold prices.
In the Asian session, at GMT0300, the pair is trading at 18.15, with the silver trading 0.08% higher against the USD from yesterday’s close.
The pair is expected to find support at 18.06, and a fall through could take it to the next support level of 17.98. The pair is expected to find its first resistance at 18.26, and a rise through could take it to the next resistance level of 18.37.
The white metal is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.
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