FxWirePro: Silver erases previous loss against U.S. dollar, bias turns bullish again
XAG/USD is currently trading around $17.20 marks. It made intraday high at $17.23 and low at $17.06 levels. Intraday bias remains bullish till the time pair holds key support at $17.15 mark. A daily close above $17.15 wi…
It made intraday high at $17.23 and low at $17.06 levels.
Intraday bias remains bullish till the time pair holds key support at $17.15 mark.
A daily close above $17.15 will test key resistances at $17.32, $17.40, $17.49, $16.67, $17.82, $17.95, $18.12, $18.24, $18.39, $18.52 and $18.63 marks respectively.
On the other side, a daily close below $17.15 will take the parity down towards key supports at $17.01/$16.90/$16.76/$16.57 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
We prefer to take long position in XAG/USD around $17.17, stop loss $17.01 and target of $17.60.
