• FxWirePro: Silver fails to break key resistance at $17.72 Mark, stay bearish only below $17.52 Mark

    Source: FxWire Pro - Technicals / 15 Oct 2019 04:16:58   America/New_York

    • XAG/USD is currently trading around $17.60 marks.
       
    • It made intraday high at $17.71 and low at $17.54 levels.
       
    • Intraday bias remains neutral till the time pair holds key resistance at $17.72 mark.
       
    • A daily close above $17.63 will test key resistances at $7.72, $17.87, $18.02, $18.17, $18.45, $18.76, $19.07 and $19.27 marks respectively.
       
    • On the other side, a daily close below $17.40 will take the parity down towards key supports at $17.17, $16.97, $16.72, $16.40 and $16.17 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 short position on XAG/USD only below $17.52, stop loss at $17.72 and target of $17.17/$16.97.

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