FxWirePro: Silver unexpectedly spikes down to fresh 3-week low at $16.78 mark, intraday bias remains neutral
XAG/USD is currently trading around $17.19 marks. It made intraday high at $17.27 and low at $17.14 levels. Intraday bias remains neutral for the moment. A daily close above $17.17 will test key resistances at $17.40, $1…
It made intraday high at $17.27 and low at $17.14 levels.
Intraday bias remains neutral for the moment.
A daily close above $17.17 will test key resistances at $17.40, $17.52, $17.76 and $17.90 marks respectively.
On the other side, a daily close below $17.17 will take the parity down towards key supports at $17.08, $16.98, $16.87, $16.70 and $16.55 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 in XAG/USD only above $17.32, stop loss $17.12 and target of $17.40/$17.52 mark.
