FxWirePro: Silver trades in narrow range, downside limited
XAG/USD is currently trading around $17.89 marks. It made intraday high at $18.03 and low at $17.85 levels. Intraday bias remains neutral till the time pair moves in stiff boundaries from $18.03 to $17.78 mark. A daily c…
It made intraday high at $18.03 and low at $17.85 levels.
Intraday bias remains neutral till the time pair moves in stiff boundaries from $18.03 to $17.78 mark.
A daily close above $18.02 will test key resistances at $18.17, $18.45, $18.76, $19.07, $19.27, $19.76, $19.98, and $20.10 marks respectively.
On the other side, a daily close below $17.88 will take the parity down towards key supports at $17.42, $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 around $17.90, stop loss at $17.76 and target of $18.45.
