21 Jan 2015
Silver trades at 200-DMA
FXStreet (Mumbai) - Silver prices extended gains today to breach the 200-DMA located at USD 18.18, as safe haven assets continue to gain ahead of ECB meet and Greek vote.
The metal now trades 1.49% higher at USD 18.223/Oz levels, compared to the previous session’s close at USD 17.956/Oz levels. Silver prices have gained strength in line with Gold and other safe haven assets. However, being a semi-safe haven asset, the gains have been somewhat restricted due to concerns of a slowdown in the global economy. Nevertheless, prices have breached the 200-DMA today.
Silver Technical Levels
The immediate resistance is seen at 18.42, above which silver could test 18.87 levels. Meanwhile, support is seen at 18.18 (200-DMA) and 18.00 levels.
The metal now trades 1.49% higher at USD 18.223/Oz levels, compared to the previous session’s close at USD 17.956/Oz levels. Silver prices have gained strength in line with Gold and other safe haven assets. However, being a semi-safe haven asset, the gains have been somewhat restricted due to concerns of a slowdown in the global economy. Nevertheless, prices have breached the 200-DMA today.
Silver Technical Levels
The immediate resistance is seen at 18.42, above which silver could test 18.87 levels. Meanwhile, support is seen at 18.18 (200-DMA) and 18.00 levels.