FxWirePro: Silver touches $17.24 mark in early Asia, U.S. PPI data in focus
XAG/USD is currently trading around $17.39 marks. It made intraday high at $17.46 and low at $17.24 levels. Intraday bias remains bearish till the time pair holds key resistance at $17.54 mark. A daily close above $17.54…
It made intraday high at $17.46 and low at $17.24 levels.
Intraday bias remains bearish till the time pair holds key resistance at $17.54 mark.
A daily close above $17.54 will test key resistances at $17.72, $17.87, $18.02, $18.17, $18.45, $18.76, $19.07 and $19.27 marks respectively.
On the other side, a daily close below $17.41 will take the parity down towards key supports at $17.17, $16.87, $16.72, $16.40 and $16.17 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 $17.47, stop loss at $17.22 and target of $17.72/$17.87.
