• FxWirePro: Silver falls in early hours of Asia, downside limited

    Source: FxWire Pro - Technicals / 02 Jan 2018 22:47:46   Eastern Standard Time

    • XAG/USD is currently trading around $17.04 marks.
       
    • It made intraday high at $17.19 and low at $17.04 levels.
       
    • Intraday bias remains slightly bearish till the time pair holds key resistance at $17.18 mark.
       
    • A daily close above $17.16 will test key resistances at $17.22, $17.40 and $17.52 marks respectively.
       
    • On the other side, a daily close below $17.16 will take the parity down towards key supports at $17.10, $16.98, $16.87, $16.70, $16.55, $16.48, $16.36, $16.28, $16.15 and $16.02 marks respectively.
       
    • Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.

    We prefer to take long position in XAG/USD around $16.98, stop loss $16.92 and target of $17.22/$17.40 mark.

    FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest