FxWirePro: Silver hovers around key resistance at $17.87 mark, good to go long on dips
XAG/USD is currently trading around $17.88 marks. It made intraday high at $17.92 and low at $17.82 levels. Intraday bias remains bullish till the time pair holds key support at $17.67 mark. A daily close above $17.87 wi…
It made intraday high at $17.92 and low at $17.82 levels.
Intraday bias remains bullish till the time pair holds key support at $17.67 mark.
A daily close above $17.87 will test key resistances at $18.02, $18.22, $18.47 and $18.65 marks respectively.
On the other side, a daily close below $17.74 will take the parity down towards key supports at $17.62, $17.35, $17.17, $17.02, $16.74, $16.57 and $16.40 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 $17.84, stop loss at $17.70 and target of $17.92/$18.02.
