• FxWirePro: Silver remains highly volatile, faces key resistance at $18.32 Mark

    Source: FxWire Pro - Technicals / 11 Sep 2019 05:08:35   America/New_York

    • XAG/USD is currently trading around $18.09 marks.
       
    • It made intraday high at $18.22 and low at $17.94 levels.
       
    • Intraday bias remains bearish till the time pair holds key resistance at $18.32 mark.
       
    • A daily close above $17.94 will test key resistances at $18.32, $18.76, $19.07,  $19.27, $19.76, $19.98, and $20.10 marks respectively.
       
    • On the other side, a daily close below $17.94 will take the parity down towards key supports at $17.76, $17.60 and $17.40 marks respectively.
       
    • Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. Current downside movement is short term trend correction only.

    We prefer to take short position on XAG/USD around $18.10, stop loss at $18.24 and target of $17.94/$17.76.

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