Silver: White Metal Trading Marginally Lower, Following Yesterday's Rise

Singapore (Jan 24)  Silver prices rose 1.26% to USD20.05 per ounce during the 24 hours ending 23:00GMT, amid a broadly weak US Dollar.


In the Asian session, at GMT0400, Silver is trading at 20.04, marginally lower from yesterday's close.


Silver is expected to find support at 19.72, and a fall through could take it to the next support level of 19.41. Silver is expected to find its first resistance at 20.34, and a rise through could take it to the next resistance level of 20.64.


The white metal is showing convergence with its 20 Hr moving average and is trading above its 50 Hr moving average.


Silver closed in New York at $19.90, down 11 cents on the day.