FxWirePro: Silver rises noticeably against U.S. dollar, faces immediate resistance at $18.42 mark
XAG/USD is currently trading around $18.34 marks. It made intraday high at $18.36 and low at $17.91 levels. Intraday bias remains bullish till the time pair holds key support at $17.72 mark. A daily close above $18.08 wi…
It made intraday high at $18.36 and low at $17.91 levels.
Intraday bias remains bullish till the time pair holds key support at $17.72 mark.
A daily close above $18.08 will test key resistances at $18.42, $18.76, $19.07, $19.27, $19.76, $19.98, and $20.10 marks respectively.
On the other side, a daily close below $17.72 will take the parity down towards key supports at $17.42, $17.26, $17.07, $16.94 and $16.72 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 $18.35, stop loss at $18.15 and target of $18.76.
