FxWirePro: Silver rises gradually against U.S. dollar, sustained close above $18.56 requires for the upside rally
XAG/USD is currently trading around $18.48 marks. It made intraday high at $18.54 and low at $18.42 levels. Intraday bias remains bullish till the time pair holds key support at $18.22 mark. A daily close above $18.42 wi…
It made intraday high at $18.54 and low at $18.42 levels.
Intraday bias remains bullish till the time pair holds key support at $18.22 mark.
A daily close above $18.42 will test key resistances at $18.56/$18.72/$18.97 marks respectively.
On the other side, a daily close below $18.42 will take the parity down towards key supports at $18.30/$18.22/$18.08/$17.99/$17.72/$17.51/$17.42/$17.22/$17.09/$16.87 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 go long on XAG/USD around $18.45 with stop loss at $18.22 and target of $18.56/$18.62.
