Silver prices declined 0.50% to USD 28.57 per ounce during the 24 hours ending 23:00GMT, on reduced off-take by traders amid a weak trend in overseas markets.
In the Asian session, at GMT0300, Silver is trading at 28.45, 0.41% lower from yesterday’s close.
Silver is expected to find support at 28.09, and a fall through could take it to the next support level of 27.72. Silver is expected to find its first resistance at 28.82, and a rise through could take it to the next resistance level of 29.18.
The white metal is converging with its 20 Hr and 50 Hr moving averages.