FxWirePro: Silver consolidates around $15.25 mark, further sideways movement likely
XAG/USD is currently trading around $15.24 marks. It made intraday high at $15.33 and low at $15.11 levels. Intraday bias remains neutral till the time pair holds key resistance at $15.25 mark. A daily close above $15.25…
It made intraday high at $15.33 and low at $15.11 levels.
Intraday bias remains neutral till the time pair holds key resistance at $15.25 mark.
A daily close above $15.25 will test key resistances at $15.40, $15.55, $15.86, $16.12 and $16.38 marks respectively.
On the other side, a daily close below $15.18 will take the parity down towards key supports at $14.97, $14.77, $14.68, $14.40, $13.97 and $13.81 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 short position on XAG/USD around $15.28, stop loss at $15.40 and target of $14.97.
