FxWirePro: Silver Rises 3.25 Pct to $20.42, Highest Since August 2014

FxWirePro: Silver Rises 3.25 Pct to $20.42, Highest Since August 2014

4 July 2016, 05:41
Roberto Jacobs
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FxWirePro: Silver Rises 3.25 Pct to $20.42, Highest Since August 2014

  • XAG/USD is currently trading around $20.35 marks. 
  • It made intraday high at $20.43 and low at $19.65 levels. 
  • Intraday bias remains bullish till the time pair holds immediate support at $19.70 marks.  
  • A sustained close above $20.43 tests key resistances at $20.78, $21.09 and $21.46 marks respectively. 
  • On the other side, a daily close below $20.00 will take the parity down towards key supports at $19.88, $19.48, $19.34, $19.12 and $19.09 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 only above $20.43, stop loss at $19.70 and target $20.78/ $21.09 marks.

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