Analysis | Commodity Market Commentaries |
Written by GCI Financial |
Fri Feb 17 17 02:24 ET
For the 24 hours to 23:00 GMT, Silver rose 1.0% against the USD and closed at USD18.16 per ounce, tracking gains in gold prices
In the Asian session, at GMT0400, the pair is trading at 18.13, with the silver trading 0.17% lower from yesterday’s close.
The pair is expected to find support at 18.02, and a fall through could take it to the next support level of 17.91. The pair is expected to find its first resistance at 18.22, and a rise through could take it to the next resistance level of 18.32.
The white metal is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
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