• FxWirePro: Silver trades marginally lower ahead of U.S. ADP job data, faces immediate resistance at $19.55 Mark

    Source: FxWire Pro - Technicals / 05 Sep 2019 05:00:13   America/New_York

    • XAG/USD is currently trading around $19.36 marks.
       
    • It made intraday high at $19.55 and low at $19.25 levels.
       
    • Intraday bias remains slightly bearish till the time pair holds key resistance at $19.55 mark.
       
    • A daily close above $19.55 will test key resistances at $19.76, $19.98, and $20.10 marks respectively.
       
    • On the other side, a daily close below $19.55 will take the parity down towards key supports at $19.17, $18.90, $18.48 and $18.02 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 $19.30, stop loss at $19.15 and target of $19.55/$19.76.

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