FxWirePro: Silver almost flat at $19.60, bias remains neutral
XAG/USD is currently trading around $19.60 marks. It made intraday high at $19.63 and low at $19.54 levels. Intraday bias remains neutral till the time pair holds key support at $19.52 levels. A daily close below $19.52 …
It made intraday high at $19.63 and low at $19.54 levels.
Intraday bias remains neutral till the time pair holds key support at $19.52 levels.
A daily close below $19.52 will take the parity down towards key supports at $19.44, $19.27, $19.05, $18.88, $18.68, $18.44, $18.17, $17.69, $17.50 and $17.08 marks respectively.
On the other side, a daily close above $19.64 will test key resistances at $19.91/$20.10/$20.22/$20.32/$20.46/$20.67/$20.78/$21.09 and $21.46 marks respectively.
Important to note here that in a daily chart 20D, 30D and 55D EMA heads up and confirms the bullish trend. Current downside movement is short term trend correction only.
We prefer to go short on XAG/USD around $19.62 with stop loss at $19.91 and target of $19.27/$19.05.
