FxWirePro: Silver remains highly volatile in early hours of Asia, good to sell on rallies
XAG/USD is currently trading around $19.10 marks. It made intraday high at $19.15 and low at $18.73 levels. Intraday bias remains bearish till the time pair holds key resistance at $19.27 marks. A daily close below $18.7…
It made intraday high at $19.15 and low at $18.73 levels.
Intraday bias remains bearish till the time pair holds key resistance at $19.27 marks.
A daily close below $18.77 will take the parity down towards key supports at $18.68, $18.44, $18.17, $17.69, $17.50 and $17.08 marks respectively.
On the other side, a daily close above $19.27 will test key resistances at $19.64/$19.75/$19.91/$20.10/$20.22/$20.32/$20.46/$20.67/$20.78/$21.09 and $21.46 marks respectively.
Markets shift focus to FOMC interest rate decision due on September 21, 2016.
We prefer to go short on XAG/USD around $19.10 with stop loss at $19.27 and target of $18.77/$18.44.
