FxWirePro: Silver back above $18.00 mark, good to buy on dips
XAG/USD is currently trading around $18.00 marks. It made intraday high at $18.07 and low at $17.69 levels. Intraday bias remains bullish till the time pair holds initial support at $17.88 marks. A sustained close above …
It made intraday high at $18.07 and low at $17.69 levels.
Intraday bias remains bullish till the time pair holds initial support at $17.88 marks.
A sustained close above $17.89 tests key resistances at $18.17 and $18.29 marks respectively.
On the other side, a daily close below $17.50 will take the parity down towards key supports at $17.45, $17.32, $17.11, $17.02, 16.95 and $16.88 marks respectively.
Important to note here that in a daily chart, 20D, 30D and 55D EMA heads up and confirms the bullish trend.
We prefer to take long position in XAG/USD only above $18.02, stop loss at $17.88 and target $18.17/$18.29 marks.
