FxWirePro: Silver falls gradually against U.S. dollar, faces immediate support at $14.57 mark
XAG/USD is currently trading around $14.64 marks. It made intraday high at $14.73 and low at $14.64 levels. Intraday bias remains bearish till the time pair holds key resistance at $14.77 mark. A daily close above $14.73…
It made intraday high at $14.73 and low at $14.64 levels.
Intraday bias remains bearish till the time pair holds key resistance at $14.77 mark.
A daily close above $14.73 will test key resistances at $14.78, $14.92, $15.08 and $15.27 marks respectively.
On the other side, a daily close below $14.73 will take the parity down towards key supports at $14.57, $14.47, $14.35, $14.22, $14.17 and $14.07 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 take long position on XAG/USD around $14.58, stop loss $14.47 and target of $14.78/$14.92/$15.02.
