FxWirePro: Silver stabilizes below $17.20 mark, faces immediate support at $17.07 mark
XAG/USD is currently trading around $17.17 marks. It made intraday high at $17.31 and low at $17.12 levels. Intraday bias remains bullish till the time pair holds key support at $17.07 mark. A daily close above $17.20 wi…
It made intraday high at $17.31 and low at $17.12 levels.
Intraday bias remains bullish till the time pair holds key support at $17.07 mark.
A daily close above $17.20 will test key resistances at $17.37, $17.48 and $17.78 marks respectively.
On the other side, a daily close below $17.20 will take the parity down towards key supports at $17.07, $16.87, $16.57, $16.07, $15.90, $15.70, $15.47 and $15.40 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
We prefer to take long position on XAG/USD around $17.15, top loss at $17.05 and target of $17.37/$17.48.
