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FxWirePro: Silver fails to fall below $15.00 mark, intraday bias remains bullish

XAG/USD is currently trading around $15.40 levels. It made intraday high at $15.42 and low at $15.27 levels. Intraday bias remains bullish for the moment. A daily close below $15.03 will tests key supports at $15.01, $14…

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FxWirePro: Silver fails to fall below $15.00 mark, intraday bias remains bullish
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  • XAG/USD is currently trading around $15.40 levels.
     
  • It made intraday high at $15.42 and low at $15.27 levels.
     
  • Intraday bias remains bullish for the moment.
     
  • A daily close below $15.03 will tests key supports at $15.01, $14.94 and $14.55 marks respectively.
     
  • Alternatively, a current rebound from $15.03 will likely to test key resistances at $15.60/ $15.68 and $15.72 marks.
     
  • Important to note here that, 20D, 30D and 55D EMA heads up, which confirms bullish trend.
     
  • Later today, US will release ADP job data. This will provide further directions to the parity,

We prefer to tale long position in XAG/USD around $15.35, stop loss $15.21 and target $15.60 levels.

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