FxWirePro: Silver Up by 1.6 Pct at $18.98, Marks Fresh High Since September 2014
- XAG/USD is currently trading around $18.95 marks.
- It made intraday high at $18.98 and low at $18.68 levels.
- Intraday bias remains bullish till the time pair holds immediate support at $18.45 marks.
- A sustained close above $19.00 tests key resistances at $19.09, $19.12, $19.34, $19.48 and $19.88 marks respectively.
- On the other side, a daily close below $18.68 will take the parity down towards key supports at $18.45, $18.29, $18.19, $17.99 and $17.88 marks respectively.
- Important to note here that in a daily chart, 20D, 30D and 55D EMA heads up and confirms the bullish trend.
We prefer to take long position in XAG/USD around $18.90, stop loss at $18.68 and target $19.34/ $19.48 marks.