FxWirePro: Silver stabilises back above $20.00 mark, FOMC minutes in focus
XAG/USD is currently trading around $20.23 marks. It made intraday high at $20.38 and low at $19.90 levels. Intraday bias remains bullish till the time pair holds key support at $19.88 marks. A sustained close above $20.…
It made intraday high at $20.38 and low at $19.90 levels.
Intraday bias remains bullish till the time pair holds key support at $19.88 marks.
A sustained close above $20.05 tests key resistances at $20.43, $20.78, $21.09 and $21.46 marks respectively.
On the other side, a daily close below $19.88 will take the parity down towards key supports at $19.62, $19.46, $19.34, $19.12 and $19.09 marks respectively.
Important to note here that in a daily chart, 20D, 30D and 55D EMA heads up and confirms the bullish trend.
We prefer to take long position in XAG/USD around $20.19, stop loss at $19.90 and target $20.43/ $20.78 marks.
