FxWirePro: Silver remains well supported above $20.05 mark; stay bullish
XAG/USD is currently trading around $20.34 marks. It made intraday high at $20.47 and low at $20.16 levels. Intraday bias remains bullish till the time pair holds key support at $20.05 marks. A daily close above $20.65 t…
It made intraday high at $20.47 and low at $20.16 levels.
Intraday bias remains bullish till the time pair holds key support at $20.05 marks.
A daily close above $20.65 tests key resistances at $20.78, $21.09 and $21.46 marks respectively.
On the other side, a daily close below $20.05 will take the parity down towards key supports at $19.96, $19.88, $19.65, $19.34, $19.12, $19.09 and $18.68 marks respectively.
Important to note here that in a daily chart, 20D, 30D and 55D EMA heads up and confirms the bullish trend.
We prefer to take long position in XAG/USD around $20.28, stop loss at $20.05 and target $20.47/$20.65/ $20.78 marks.
