FxWirePro: Silver hits fresh 4-week high at $20.10 mark, faces strong resistance at $20.22
XAG/USD is currently trading around $20.03 marks. It made intraday high at $20.10 and low at $19.92 levels. Intraday bias remains bullish till the time pair holds key support at $19.72 levels. A daily close below $19.72 …
It made intraday high at $20.10 and low at $19.92 levels.
Intraday bias remains bullish till the time pair holds key support at $19.72 levels.
A daily close below $19.72 will take the parity down towards key supports at $19.44, $19.05, $18.88, $18.68, $18.44, $18.17, $17.69, $17.50 and $17.08 marks respectively.
On the other side, a daily close above $20.10 will test key resistances at $20.22/$20.32/$20.46/$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 go long on XAG/USD around $19.95 with stop loss at $19.72 and target of $20.22/$20.46.
