FxWirePro: Silver fails to break key support at $19.27 mark, good to buy on dips
XAG/USD is currently trading around $19.57 marks. It made intraday high at $19.66 and low at $19.41 levels. Intraday bias remains bullish till the time pair holds key support at $19.27 levels. A daily close above $19.69 …
It made intraday high at $19.66 and low at $19.41 levels.
Intraday bias remains bullish till the time pair holds key support at $19.27 levels.
A daily close above $19.69 tests key resistances at $19.92, $20.05, $20.20, $20.32, $20.45, $20.66, $20.78, $21.09 and $21.46 marks respectively.
On the other side, a daily close below $19.28 will take the parity down towards key supports at $19.17, 19.12, $19.09, $18.87 and $18.68 marks respectively.
Important to note here that in a daily chart, 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 $19.52 with stop loss at $19.38 and target of $19.69/$19.92.
