FxWirePro: Silver fails to break key resistance at $15.02 mark, downside limited
XAG/USD is currently trading around $14.76 marks. It made intraday high at $14.82 and low at $14.72 levels. Intraday bias remains bullish till the time pair holds key support at $14.62 mark. A daily close above $14.78 wi…
It made intraday high at $14.82 and low at $14.72 levels.
Intraday bias remains bullish till the time pair holds key support at $14.62 mark.
A daily close above $14.78 will test key resistances at $14.85, $14.92, $15.02, $15.08, $15.22 and $15.40 marks respectively.
On the other side, a daily close below $14.78 will take the parity down towards key supports at $14.62, $14.55, 44.40, $14.27, $14.22, $14.12 and $13.98 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 long position on XAG/USD around $14.75, stop loss at $14.62 and target of $14.85/$14.92.
