FxWirePro: Silver fails to sustain above $17.72 mark, stay bearish
XAG/USD is currently trading around $17.32 marks. It made intraday high at $17.46 and low at $17.28 levels. Intraday bias remains bearish till the time pair holds key resistance at $17.72 mark. A daily close above $17.41…
It made intraday high at $17.46 and low at $17.28 levels.
Intraday bias remains bearish till the time pair holds key resistance at $17.72 mark.
A daily close above $17.41 will test key resistances at $17.48/$17.68/$17.72/$17.98/$18.24 marks respectively.
On the other side, a daily close below $17.41 will take the parity down towards key supports at $17.28/$17.11/$17.00/$16.88/$16.72/$16.40/$16.28/$16.14 marks respectively.
We prefer to go short on XAG/USD around $17.35 with stop loss at $17.48 and target of $17.11/$16.98.
