FxWirePro: Silver Hits Fresh 10-Month High, Remains Supported Well Above $17.00

FxWirePro: Silver Hits Fresh 10-Month High, Remains Supported Well Above $17.00

20 April 2016, 08:21
Roberto Jacobs
0
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FxWirePro: Silver Hits Fresh 10-Month High, Remains Supported Well Above $17.00

  • XAG/USD is currently trading around $17.11 marks. 
  • It made intraday high at $17.21 and low at $16.88 levels. 
  • Intraday bias remains slightly bullish till the time pair holds immediate support level at $16.88 marks. 
  • On the top side, key resistance is seen at $17.22. A sustained break above will take the parity up towards $17.45/$17.68 levels. 
  • Alternatively, a daily close below $16.88 will drag the parity down around $16.78/$16.70/$16.42 levels respectively. 
  • Initial support levels are seen at $17.01, $16.88 and $16.82 marks. 
  • Resistance levels are seen at $17.22, $17.45 and $17.68 thereafter.

We prefer to take long position in XAG/USD around $17.04, stop loss $16.88 and target $17.22/$17.45 marks.

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