FxWirePro: Silver trades flat at $17.22 mark, U.S. ISM non – manufacturing PMI data in focus
XAG/USD is currently trading around $17.17 marks. It made intraday high at $17.33 and low at $17.12 levels. Intraday bias remains neutral for the moment. A daily close above $17.22 will test key resistances at $17.48, $1…
It made intraday high at $17.33 and low at $17.12 levels.
Intraday bias remains neutral for the moment.
A daily close above $17.22 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 $17.12, stop loss at $17.35 and target of $16.87/$16.68.
