FxWirePro: XAG/USD remains well supported above $19.50; stay bullish
XAG/USD is currently trading around $19.59 marks. It made intraday high at $19.63 and low at $19.52 levels. Intraday bias remains bullish till the time pair holds key support at $19.41 levels. A daily close above $19.72 …
It made intraday high at $19.63 and low at $19.52 levels.
Intraday bias remains bullish till the time pair holds key support at $19.41 levels.
A daily close above $19.72 tests key resistances at $19.92, $20.05, $20.20, $20.32, $20.45, $20.66, $20.78, $21.09 and $21.46 marks respectively.
On the other side, a daily close below $19.41 will take the parity down towards key supports at $19.28, $19.17, 19.12, $19.09, $18.87 and $18.68 marks respectively.
Important to note here that in a daily chart, 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 around $19.55 with stop loss at $19.41 and target of $19.76/$19.92.
