FxWirePro: Silver hits fresh 5 - month high at $18.88 mark, further upside movement likely
XAG/USD is currently trading around $18.84 marks. It made intraday high at $18.88 and low at $18.48 levels. Intraday bias remains bullish till the time pair holds key support at $18.47 mark. A daily close above $18.48 wi…
It made intraday high at $18.88 and low at $18.48 levels.
Intraday bias remains bullish till the time pair holds key support at $18.47 mark.
A daily close above $18.48 will test key resistances at $18.87, $18.98, $19.08 and $19.24 marks respectively.
On the other side, a daily close below $18.48 will take the parity down towards key supports at $18.32, $18.15, $18.02, $17.87, $17.70, $17.62 and $17.47 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 $18.84, stop loss at $18.68 and target of $19.08/$19.24.
