FxWirePro: Silver falls gradually against U.S. dollar, downside limited
XAG/USD is currently trading around $15.53 marks. It made intraday high at $15.66 and low at $15.48 levels. Intraday bias remains bearish till the time pair holds key resistance at $15.63 mark. A daily close above $15.63…
It made intraday high at $15.66 and low at $15.48 levels.
Intraday bias remains bearish till the time pair holds key resistance at $15.63 mark.
A daily close above $15.63 will test key resistances at $15.85, $15.96, $16.04, $16.20 and $16.32 marks respectively.
On the other side, a daily close below $15.63 will take the parity down towards key supports at $15.47, $15.40, $15.30, $15.20 and $15.02 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
We prefer to take long position on XAG/USD around $15.50, stop loss $15.38 and target of $15.96/$16.04.
