• FxWirePro: Silver exhibits range bound movement, U.S. president trump’s speech in focus

    Source: FxWire Pro - Technicals / 12 Nov 2019 02:56:24   America/New_York

    • XAG/USD is currently trading around $16.80 marks.
       
    • It made intraday high at $16.88 and low at $16.73 levels.
       
    • Intraday bias remains neutral for the moment.
       
    • A daily close above $16.83 will test key resistances at $16.92, $17.08, $17.22, $17.40, $17.68, $17.87 and $18.02 marks respectively.
       
    • On the other side, a daily close below $16.78 will take the parity down towards key supports at $16.64, $16.57, $16.40, $16.17 and $16.02 marks respectively.
       
    • Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.

    We prefer to take long position on XAG/USD around $16.78, stop loss at $16.67 and target of $16.92/$17.08.

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