FxWirePro: Silver hits fresh 17 –month high at $18.45, bias remains bullish above $18.17
XAG/USD is currently trading around $18.29 marks. It made intraday high at $18.33 and low at $18.17 levels. Intraday bias remains bullish till the time pair holds immediate support at $18.17 marks. A sustained close abov…
It made intraday high at $18.33 and low at $18.17 levels.
Intraday bias remains bullish till the time pair holds immediate support at $18.17 marks.
A sustained close above $18.45 tests key resistances at $18.60, $18.68 and $18.95 marks respectively.
On the other side, a daily close below $18.17 will take the parity down towards key supports at $17.95, $17.88, $17.60, $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 $18.32, stop loss at $18.17 and target $18.60 marks.
