FxWirePro: XAG/USD hovers around $18.02 mark, sustained close above require for upside rally
XAG/USD is currently trading around $18.00 marks. It made intraday high at $18.07 and low at $17.94 levels. Intraday bias remains bullish till the time pair holds key support at $17.70 mark. A daily close above $18.02 wi…
It made intraday high at $18.07 and low at $17.94 levels.
Intraday bias remains bullish till the time pair holds key support at $17.70 mark.
A daily close above $18.02 will test key resistances at $18.17, $18.45, $18.76, $19.07 and $19.27 marks respectively.
On the other side, a daily close below $17.78 will take the parity down towards key supports at $17.47, $17.17, $16.97, $16.72, $16.40 and $16.17 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 $17.95, stop loss at $17.72 and target of $18.17/$18.45.
