FxWirePro: Silver hits fresh 5-month high at $16.10 mark, stay long
XAG/USD is currently trading around $16.06 marks. It made intraday high at $16.10 and low at $15.90 levels. Intraday bias remains bullish till the time pair holds key support at $15.90 mark. A daily close above $15.93 wi…
It made intraday high at $16.10 and low at $15.90 levels.
Intraday bias remains bullish till the time pair holds key support at $15.90 mark.
A daily close above $15.93 will test key resistances at $16.10, $16.24, $16.32 and $16.48 marks respectively.
On the other side, a daily close below $15.90 will take the parity down towards key supports at $15.70, $15.47, $15.40, $15.22, $15.17, $15.07 and $14.87 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 on XAG/USD around $16.05, stop loss at $15.90 and target of $15.24/$16.32.
