• FxWirePro: Silver back above $18.00 Mark, sustained close above requires for upside rally

    Source: FxWire Pro - Technicals / 19 Jan 2020 12:02:52   America/New_York

    • XAG/USD is currently trading around $18.04 marks.
       
    • It made intraday high at $18.08 and low at $17.90 levels.
       
    • Intraday bias remains bullish till the time pair holds key support $17.87 mark.
       
    • A daily close above $18.02 will test key resistances at $18.08, $18.17, $18.32, $18.40, $18.87, $18.98, $19.08 and $19.24 marks respectively.
       
    • On the other side, a daily close below $17.76 will take the parity down towards key supports at $17.62, $17.40 and $17.17 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 $18.00, stop loss at $17.87 and target of $18.17.

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