Back
15 Jan 2015
Silver restricted around Dec 2014 highs
FXStreet (Mumbai) - Silver advanced today, tracking the gains in Gold prices, although the metal once again finds itself stuck around the December 2014 high of USD 17.33.
Silver currently trades 0.77% higher for the day at USD 17.11/Oz levels, compared to the previous session’s close at USD 16.84/Oz levels. The metal has seen failure near Dec 2014 highs for the third consecutive session today. On the other hand, Gold prices have been able to rise above the 200-DMA levels today; trading 2% higher for the day. Moreover, Silver being a semi-industrial metal, has been unable to extend gains due to the weakness seen in other industrial metals.
Silver Technical Levels
The immediate resistance is seen at 17.21, above which the prices could test 17.33 (Dec. 10 high). Meanwhile, support is seen at 16.81 (5-DMA) and 16.5460 (100-DMA) levels.
Silver currently trades 0.77% higher for the day at USD 17.11/Oz levels, compared to the previous session’s close at USD 16.84/Oz levels. The metal has seen failure near Dec 2014 highs for the third consecutive session today. On the other hand, Gold prices have been able to rise above the 200-DMA levels today; trading 2% higher for the day. Moreover, Silver being a semi-industrial metal, has been unable to extend gains due to the weakness seen in other industrial metals.
Silver Technical Levels
The immediate resistance is seen at 17.21, above which the prices could test 17.33 (Dec. 10 high). Meanwhile, support is seen at 16.81 (5-DMA) and 16.5460 (100-DMA) levels.