FxWirePro: Silver Hits Fresh 3-Week High at $17.20, Stay Bullish
- XAG/USD is currently trading around $17.17 marks.
- It made intraday high at $17.20 and low at $16.98 levels.
- Intraday bias remains bullish till the time pair holds key support at $16.98 marks.
- A daily close below $16.98 will take the parity down towards key support at $16.88, $16.76, $16.63 and $16.32 marks respectively.
- Alternatively, current upward trend will take the parity higher towards key resistances at $17.25, $17.32 and $17.45 marks respectively.
- Important to note here that in a daily chart, 20D, 30D and 55D EMA heads up and confirms bullish trend.
We prefer to take long position in XAG/USD at $17.15, stop loss $16.98 and target $17.35/ $17.42 marks.