FxWirePro: Silver stabilizes above $17.20 mark, U.S. NFP job data in focus
XAG/USD is currently trading around $17.33 marks. It made intraday high at $17.53 and low at $17.28 levels. Intraday bias remains neutral for the moment. A daily close above $17.42 will test key resistances at $17.48, $1…
It made intraday high at $17.53 and low at $17.28 levels.
Intraday bias remains neutral for the moment.
A daily close above $17.42 will test key resistances at $17.48, $17.67, $17.92 and $18.22 marks respectively.
On the other side, a daily close below $17.22 will take the parity down towards key supports at $17.08, $16.87, $16.68, $16.40, $16.22, $16.02 and $15.87 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 short position on XAG/USD only below $17.28, stop loss at $17.54 and target of $17.02/$16.87/$16.68.
