FxWirePro: Silver stabilizes above $17.10 mark, stay long
XAG/USD is currently trading around $17.16 marks. It made intraday high at $17.18 and low at $17.07 levels. Intraday bias remains bullish till the time pair holds key support at $17.02 mark. A daily close above $17.12 wi…
It made intraday high at $17.18 and low at $17.07 levels.
Intraday bias remains bullish till the time pair holds key support at $17.02 mark.
A daily close above $17.12 will test key resistances at $17.22, $17.40, $17.68, $17.87 and $18.02 marks respectively.
On the other side, a daily close below $16.98 will take the parity down towards key supports at $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 $17.12, stop loss at $17.02 and target of $17.40.
