FxWirePro: Silver rises conspicuously against U.S. dollar, faces strong resistance at $18.32 mark
XAG/USD is currently trading around $18.24 marks. It made intraday high at $18.32 and low at $18.04 levels. Intraday bias remains neutral till the time pair holds key resistance at $18.32 mark. A daily close above $18.16…
It made intraday high at $18.32 and low at $18.04 levels.
Intraday bias remains neutral till the time pair holds key resistance at $18.32 mark.
A daily close above $18.16 will test key resistances at $18.32, $18.61, $18.78 and $19.02 marks respectively.
On the other side, a daily close below $18.16 will take the parity down towards key supports at $17.90, $17.40, $17.02, $16.70 and $16.57 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 only above $18.32, stop loss at $18.05 and target of $18.61/$18.78.
