FxWirePro: Silver rejects key support at $18.52, good to buy on dips
XAG/USD is currently trading around $18.92 marks. It made intraday high at $18.95 and low at $18.82 levels. Intraday bias remains bullish till the time pair holds key support at $18.52 levels. A daily close below $18.52 …
It made intraday high at $18.95 and low at $18.82 levels.
Intraday bias remains bullish till the time pair holds key support at $18.52 levels.
A daily close below $18.52 will take the parity down towards key supports at $18.44, $18.17, $17.69, $17.50 and $17.08 marks respectively.
On the other side, a daily close above $19.05 will test key resistances at $19.27/$19.46/$19.88/$20.05/$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.
The main event for the day is U.S. NFP job data.
We prefer to go long on XAG/USD around $18.90 with stop loss at $18.52 and target of $19.27/$19.75.
