FxWirePro: Silver hits fresh 3-week high at $17.86 mark, faces immediate resistance at $17.92
XAG/USD is currently trading around $17.85 marks. It made intraday high at $17.86 and low at $17.72 levels. Intraday bias remains bullish till the time pair holds key support at $17.48 mark. A daily close above $17.72 wi…
It made intraday high at $17.86 and low at $17.72 levels.
Intraday bias remains bullish till the time pair holds key support at $17.48 mark.
A daily close above $17.72 will test key resistances at $17.92/$18.04/$18.22/$18.48/$18.88 marks respectively.
On the other side, a daily close below $17.72 will take the parity down towards key supports at $17.48/$17.42/$17.22/$17.09/$16.87/$16.65/$16.48/$16.36/$16.23/$15.85 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 go long on XAG/USD around $17.84 with stop loss at $17.72 and target of $17.92/$18.04.
