FxWirePro: Silver refrains from falling below $19.00 mark, bias turns to bullish again
Friday, July 22, 2016 2:50 AM UTC
- XAG/USD is currently trading around $19.81 marks.
- It made intraday high at $19.92 and low at $19.75 levels.
- Intraday bias remains bullish till the time pair holds key support at $19.19 levels.
- A daily close above $20.05 tests key resistances at $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 $19.19 will take the parity down towards key supports at $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.
We prefer to take long position in XAG/USD around $19.70 with stop loss at $19.62 and target of $20.20.