comex silver news-Silver erases previous loss against U.S. dollar

XAG/USD is currently trading around $16.64 marks.

It made intraday high at $16.65 and low at $16.40 levels.

Intraday bias remains bullish for the moment.

A daily close above $16.44 will test key resistances at $16.62/$16.75/$16.95/$17.08/$17.22/$17.49/$17.68/$17.72/$17.98/$18.24 marks respectively.

On the other side, a daily close below $16.44 will take the parity down towards key supports at $16.42/$16.34/$16.27/$16.03 marks respectively.

Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Current upside movement is short term trend correction only.
We prefer to go long on XAG/USD around $16.62 with stop loss at $16.40 and target of $16.82.

 

econotimes

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Pramod Baviskar

Professional Market Trader And Owner Of Dalal Street Winners Advisory And Coaching Services. Working Since 2007 And Online Presence Since 2010. We Provide Highly Accurate And Professional 1 Entry And 1 Exit Future, Option, Commodity, Currency And Intraday Stock Tips On Whatsapp With Live Support And Follow Up.
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