FxWirePro: Silver rises remarkably, good to go long on dips
XAG/USD is currently trading around $17.58 marks. It made intraday high at $17.63 and low at $17.35 levels. Intraday bias remains bullish till the time pair holds key support at $17.14 mark. A daily close above $17.41 wi…
It made intraday high at $17.63 and low at $17.35 levels.
Intraday bias remains bullish till the time pair holds key support at $17.14 mark.
A daily close above $17.41 will test key resistances at $17.68, $17.87 and $18.02 marks respectively.
On the other side, a daily close below $17.40 will take the parity down towards key supports at $17.17, $17.02, $16.74, $16.57, $16.40, $16.17 and $16.02 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
We prefer to take long position on XAG/USD around $17.55, stop loss at $17.40 and target of $17.87.
