FxWirePro: Silver fails to find support below $14.00 mark, stay bullish
XAG/USD is currently trading around $14.12 marks. It made intraday high at $14.13 and low at $13.93 levels. Intraday bias remains bullish till the time pair holds key support at $13.90 mark. A daily close above $14.04 wi…
It made intraday high at $14.13 and low at $13.93 levels.
Intraday bias remains bullish till the time pair holds key support at $13.90 mark.
A daily close above $14.04 will test key resistances at $14.12, $14.28, $14.47, $14.70, $14.98, $15.10, $15.32 and $15.47 marks respectively.
On the other side, a daily close below $14.04 will take the parity down towards key supports at $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. Current upside movement is short term trend correction only.
We prefer to take long position on XAG/USD around $14.10, stop loss $13.93 and target of $14.34/$14.49.
