11 Feb 2015
Silver trades above 50-DMA
FXStreet (Mumbai) - Silver prices advanced today to trade above the 50-DMA located at USD 16.797/Oz levels.
Prices stuck between 5-DMA and 10-DMA
The metal is currently trading between the 5-DMA and the 10-DMA located at USD 16.882 and USD 17.075 respectively. Moreover, the metal has outperformed Gold today, as it trades 0.93% higher at USD 17.03/Oz levels. Meanwhile, Gold advanced 0.37% to trade at USD 1236.80/Oz levels.
Silver prices may extend gains if the Eurogroup and Greece fail to reach a deal, thereby increasing the possibility of Greek default by several notches.
Silver Technical Levels
The immediate resistance is seen at 17.075 (10-DMA), above which gains could be extended to hourly chart resistance at 17.35 levels. On the flip side, a break below the 5-DMA located at 16.882 could push the pair down to 16.797 (50-DMA).
Prices stuck between 5-DMA and 10-DMA
The metal is currently trading between the 5-DMA and the 10-DMA located at USD 16.882 and USD 17.075 respectively. Moreover, the metal has outperformed Gold today, as it trades 0.93% higher at USD 17.03/Oz levels. Meanwhile, Gold advanced 0.37% to trade at USD 1236.80/Oz levels.
Silver prices may extend gains if the Eurogroup and Greece fail to reach a deal, thereby increasing the possibility of Greek default by several notches.
Silver Technical Levels
The immediate resistance is seen at 17.075 (10-DMA), above which gains could be extended to hourly chart resistance at 17.35 levels. On the flip side, a break below the 5-DMA located at 16.882 could push the pair down to 16.797 (50-DMA).