Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: Silver moves in rigid boundaries, further sideways movement likely

  • XAG/USD is currently trading around $17.70 marks.
     
  • It made intraday high at $17.75 and low at $17.57 levels.
     
  • Intraday bias remains neutral till the time pair moves in stiff boundaries from $17.99 to $17.42 mark.
     
  • A daily close above $17.99 will test key resistances at $18.22, $18.32, $18.76, $19.07, $19.27, $19.76, $19.98, and $20.10 marks respectively.
     
  • On the other side, a daily close below $17.42 will take the parity down towards key supports at $17.26, $17.07, $16.94 and $16.72 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 $17.68, stop loss at $17.55 and target of $17.99/$18.22/$18.32.

By Aarti Panchal
  • Market Data
Close

Welcome to EconoTimes

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