FxWirePro: Silver trades flat at $17.00 mark, Fed Chair Powell’s speech in focus
XAG/USD is currently trading around $17.02 marks. It made intraday high at $17.04 and low at $16.96 levels. Intraday bias remains neutral till the time pair holds key support at $16.83 mark. A daily close above $17.20 wi…
It made intraday high at $17.04 and low at $16.96 levels.
Intraday bias remains neutral till the time pair holds key support at $16.83 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 $16.83 will take the parity down towards key supports at $16.70, $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 only above $17.04, stop loss at $16.92 and target of $17.37/$17.48.
