FxWirePro: Silver fails to find support below $15.74 mark, stay bullish only above $16.02 mark
XAG/USD is currently trading around $15.95 marks. It made intraday high at $15.96 and low at $15.89 levels. Intraday bias remains neutral till the time pair moves in stiff boundaries from $15.74 to $16.02 mark. A daily c…
It made intraday high at $15.96 and low at $15.89 levels.
Intraday bias remains neutral till the time pair moves in stiff boundaries from $15.74 to $16.02 mark.
A daily close above $15.92 will test key resistances at $16.02, $16.15, $16.22, $16.40 anss $16.55 marks respectively.
On the other side, a daily close below $15.92 will take the parity down towards key supports at $15.75, $15.58, $15.47 and $15.32 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 only above $16.02, stop loss $15.74 and target of $16.15/$16.22.
