FxWirePro: Silver fails to break key support at $14.07 mark, stay bullish only above $14.16 mark
XAG/USD is currently trading around $14.13 marks. It made intraday high at $14.16 and low at $14.09 levels. Intraday bias remains neutral for the moment. A daily close above $14.12 will test key resistances at $14.22, $1…
It made intraday high at $14.16 and low at $14.09 levels.
Intraday bias remains neutral for the moment.
A daily close above $14.12 will test key resistances at $14.22, $14.30, $14.42, $14.57, $14.72 and $14.78 marks respectively.
On the other side, a daily close below $14.12 will take the parity down towards key supports at $14.07, $13.90, $13.82, $13.68 and 13.51 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 only above $14.16, stop loss $14.07 and target of $14.30.
