Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: Silver turns higher, intraday bias remains bullish

  • XAG/USD is currently trading around $16.75 marks.
     
  • It made intraday high at $16.81 and low at $16.61 levels.
     
  • Intraday bias remains bullish for the moment.
     
  • A daily close above $16.64 will test key resistances at $16.77/$16.82/$16.95/$17.08/$17.22/$17.49/$17.68/$17.72/$17.98/$18.24 marks respectively.
     
  • On the other side, a daily close below $16.64 will take the parity down towards key supports at $16.51/$16.42/$16.34/$16.27/$16.14/$16.03 marks respectively.
     
  • Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Current upside movement is short term trend correction only.

We prefer to go long on XAG/USD around $16.72 with stop loss at $16.51 and target of $16.82/$16.95.

FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest

  • Market Data
Close

Welcome to EconoTimes

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