FxWirePro: Silver hits fresh 4-week high at $17.40 mark, stay bullish
XAG/USD is currently trading around $17.38 marks. It made intraday high at $17.40 and low at $17.31 levels. Intraday bias remains bullish till the time pair holds key support at $17.15 mark. A daily close above $17.37 wi…
It made intraday high at $17.40 and low at $17.31 levels.
Intraday bias remains bullish till the time pair holds key support at $17.15 mark.
A daily close above $17.37 will test key resistances at $17.42, $17.49, $17.60, $17.82, $17.95, $18.12, $18.24, $18.39, $18.52 and $18.63 marks respectively.
On the other side, a daily close below $17.37 will take the parity down towards key supports at $17.15, $17.09, $16.98, $16.91, $16.70, $16.52, $16.40, $16.21 and $16.10 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 take long position in XAG/USD around $17.35, stop loss $17.25 and target of $17.60.
