FxWirePro: Silver trades flat at $17.88 mark, sustained close above requires for upside rally
XAG/USD is currently trading around $17.87 marks. It made intraday high at $17.88 and low at $17.82 levels. Intraday bias remains bullish till the time pair holds key support at $17.74 mark. A daily close above $17.89 wi…
It made intraday high at $17.88 and low at $17.82 levels.
Intraday bias remains bullish till the time pair holds key support at $17.74 mark.
A daily close above $17.89 will test key resistances at $18.12, $18.24, $18.47 and $18.65 marks respectively.
On the other side, a daily close below $17.74 will take the parity down towards key supports at $17.62, $17.35, $17.17, $17.02, $16.74, $16.57 and $16.40 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 $17.90, stop loss at $17.78 and target of $18.12/$18.24/$18.47.
