FxWirePro: Silver rises noticeably in early Asia, stay long
XAG/USD is currently trading around $17.88 marks. It made intraday high at $17.88 and low at $17.69 levels. Intraday bias remains bullish till the time pair holds key support at $17.62 mark. A daily close above $17.73 wi…
It made intraday high at $17.88 and low at $17.69 levels.
Intraday bias remains bullish till the time pair holds key support at $17.62 mark.
A daily close above $17.73 will test key resistances at $17.90, $18.08, $18.22, $18.40, $18.87, $18.98, $19.08 and $19.24 marks respectively.
On the other side, a daily close below $17.73 will take the parity down towards key supports at $17.62, $17.47, $17.40, $17.32, $17.17 and $16.98 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
U.S. banks will be closed in observance of Presidents' Day.
We prefer to take long position on XAG/USD around $17.85, stop loss at $17.68 and target of $18.08/$18.22.
