• FxWirePro: Silver rises remarkably in European session, stay long

    Source: FxWire Pro - Technicals / 03 Nov 2019 11:45:23   America/New_York

    • XAG/USD is currently trading around $17.98 marks.
       
    • It made intraday high at $18.00 and low at $17.78 levels.
       
    • Intraday bias remains bullish till the time pair holds key support at $17.70 mark.
       
    • A daily close above $18.02 will test key resistances at $18.17, $18.45, $18.76, $19.07 and $19.27 marks respectively.
       
    • On the other side, a daily close below $17.78 will take the parity down towards key supports at $17.70, $17.47, $17.17, $16.97, $16.72, $16.40 and $16.17 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 $17.95, stop loss at $17.76 and target of $18.07/$18.17/$18.45.

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