• FxWirePro: Silver fails to find support below $17.50 Mark, faces key resistance at $17.72 Mark

    Source: FxWire Pro - Technicals / 22 Oct 2019 05:20:12   America/New_York

    • XAG/USD is currently trading around $17.63 marks.
       
    • It made intraday high at $17.64 and low at $17.42 levels.
       
    • Intraday bias remains bullish till the time pair holds key support at $17.32 mark.
       
    • A daily close above $17.72 will test key resistances at $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 $17.32 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 long position on XAG/USD around $17.60, stop loss at $17.40 and target of $18.02/$18.17.

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