FxWirePro: Silver falls gradually against U.S. dollar, bias remains bearish
XAG/USD is currently trading around $17.25 marks. It made intraday high at $17.36 and low at $17.25 levels. Intraday bias remains bearish till the time pair holds key resistance at $17.40 mark. A daily close above $17.30…
It made intraday high at $17.36 and low at $17.25 levels.
Intraday bias remains bearish till the time pair holds key resistance at $17.40 mark.
A daily close above $17.30 will test key resistances at $17.40/$17.48/$17.63/$17.72/$17.98 marks respectively.
On the other side, a daily close below $17.30 will take the parity down towards key supports at $17.22/$17.06/$16.88/$16.72/$16.40/$16.28/$16.14 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 go short on XAG/USD around $17.28 with stop loss at $17.40 and target of $17.08/$16.88.
