FxWirePro: Silver stabilizes below $18.00 mark, U.S. FOMC rate decision in focus
XAG/USD is currently trading around $17.83 marks. It made intraday high at $18.02 and low at $17.78 levels. Intraday bias remains slightly bearish for the moment. A daily close above $18.02 will test key resistances at $…
It made intraday high at $18.02 and low at $17.78 levels.
Intraday bias remains slightly bearish for the moment.
A daily close above $18.02 will test key resistances at $18.22, $18.32, $18.76, $19.07, $19.27, $19.76, $19.98, and $20.10 marks respectively.
On the other side, a daily close below $17.72 will take the parity down towards key supports at $17.40, $17.26, $17.07, $16.94 and $16.72 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 only above $18.02, stop loss at $17.70 and target of $18.22/$18.32.
