Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: Silver faces strong resistance at $17.42, a sustain break above targets $17.80 mark

  • XAG/USD is currently trading around $17.29 marks.
     
  • It made intraday high at $17.42 and low at $17.25 levels.
     
  • Intraday bias remains bullish till the time pair holds key support at $17.08 marks. 
     
  • A daily close below $17.08 will take the parity down towards key supports at $16.95, $16.88, $16.76, $16.63 and $16.32 marks respectively.
     
  • On the other side, a sustained close above $17.42 tests key resistances at $17.49, $17.52 and $17.80 marks respectively.
     
  • Important to note here that in a daily chart, 20D, 30D and 55D EMA heads up and confirms bullish trend. Current downside movement is short term trend correction only.

We prefer to take long position in XAG/USD around $17.30, stop loss $17.25 and target $17.42/ $17.80 marks.

  • ET PRO
  • Market Data

Market-moving news and views, 24 hours a day >

June 26 21:00 UTC Released

KRConsumer Sentiment Ind*

Actual

111.1 %

Forecast

Previous

108.0 %

June 26 13:00 UTC Released

MXIGAE Econ Activity YY

Actual

-0.7 %

Forecast

-0.85 %

Previous

4.40 %

June 27 08:00 UTC 465465m

ITMfg Business Confidence

Actual

Forecast

106.7 %

Previous

106.9 %

June 27 08:00 UTC 465465m

ITConsumer Confidence

Actual

Forecast

106.2 %

Previous

105.4 %

June 27 10:00 UTC 585585m

GBCBI Distributive Trades

Actual

Forecast

2 %

Previous

2 %

June 27 12:55 UTC 760760m

USRedbook MM

Actual

Forecast

Previous

0.7 %

June 27 12:55 UTC 760760m

USRedbook YY

Actual

Forecast

Previous

2.8 %

June 27 12:55 UTC 760760m

USRedbook MM

Actual

Forecast

Previous

0.7 %

June 27 12:55 UTC 760760m

USRedbook YY

Actual

Forecast

Previous

2.8 %

June 27 13:00 UTC 765765m

USTrade Balance SA*

Actual

Forecast

0.9 bln $

Previous

1.0 bln $

Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.