FxWirePro: Silver remains well supported above $17.50 mark, stay long
XAG/USD is currently trading around $17.66 marks. It made intraday high at $17.75 and low at $17.45 levels. Intraday bias remains bullish till the time pair holds key support at $17.32 mark. A daily close above $17.72 wi…
It made intraday high at $17.75 and low at $17.45 levels.
Intraday bias remains bullish till the time pair holds key support at $17.32 mark.
A daily close above $17.72 will test key resistances at $17.87, $18.02, $18.17, $18.45, $18.76, $19.07 and $19.27 marks respectively.
On the other side, a daily close below $17.32 will take the parity down towards key supports at $17.17, $16.97, $16.72, $16.40 and $16.17 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 $17.65, stop loss at $17.42 and target of $18.02/$18.17.
