FxWirePro: Silver trades in narrow range, downside limited
XAG/USD is currently trading around $17.90 marks. It made intraday high at $17.92 and low at $17.85 levels. Intraday bias remains bullish till the time pair holds key support at $17.65 mark. A daily close above $17.86 wi…
It made intraday high at $17.92 and low at $17.85 levels.
Intraday bias remains bullish till the time pair holds key support at $17.65 mark.
A daily close above $17.86 will test key resistances at $17.98, $18.10 and $18.24 marks respectively.
On the other side, a daily close below $17.86 will take the parity down towards key supports at $17.72/$17.65/$17.54/$17.42/$17.35/$17.26/$17.18/$17.01 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 go long on XAG/USD around $17.88 with stop loss at $17.78 and target of $18.10/$18.52.
