Silver: White Metal Extends Its Rally In The Asian Trading Hours

Hong Kong (Feb 17)  On Friday, Silver prices surged 4.72% to USD 21.44 per ounce during the period ending 21:00GMT as precious metals found themselves back in demand following the recent batch of lacklustre US economic data which weighed on the dollar.


In the Asian session, at GMT0400, Silver is trading at 21.80, 1.67% higher from Friday’s close.


Silver is expected to find support at 21.01, and a fall through could take it to the next support level of 20.22. Silver is expected to find its first resistance at 22.29, and a rise through could take it to the next resistance level of 22.77.


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


(Source:  OilNGold)