FxWirePro: Silver erases previous losses against USD; stay bullish
XAG/USD is currently trading around $19.70 marks. It made intraday high at $19.75 and low at $19.48 levels. Intraday bias remains bullish till the time pair holds key support at $19.32 levels. A daily close below $19.32 …
It made intraday high at $19.75 and low at $19.48 levels.
Intraday bias remains bullish till the time pair holds key support at $19.32 levels.
A daily close below $19.32 will take the parity down towards key supports at $19.17, 19.12, $19.09, $18.87 and $18.68 marks respectively.
On the other side, a daily close above $19.78 will test key resistances at $19.88/$20.05/$20.32/$20.45/$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.
We prefer to take long position in XAG/USD only above $19.75 with stop loss at $19.48 and target of $20.05.
