• 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.

    © FxWire Pro 2020. All rights reserved. The FxWire Pro content received through this service is the intellectual property of FxWire Pro or its third party suppliers. Republication or redistribution of content provided by FxWire Pro is expressly prohibited without the prior written consent of FxWire Pro, except for personal and non-commercial use. Neither FxWire Pro nor its third party suppliers shall be liable for any errors, omissions or delays in content, or for any actions taken in reliance thereon.
Share on,