FxWirePro: Silver falls gradually against U.S. dollar, stay bearish
XAG/USD is currently trading around $15.04 marks. It made intraday high at $15.09 and low at $15.98 levels. Intraday bias remains bearish for the moment. A daily close above $15.05 will test key resistances at $15.17, $1…
It made intraday high at $15.09 and low at $15.98 levels.
Intraday bias remains bearish for the moment.
A daily close above $15.05 will test key resistances at $15.17, $15.28, $15.32, $15.47 and $15.62 marks respectively
On the other side, a daily close below $15.05 will take the parity down towards key supports at $14.87, $14.80 and $14.68 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. Current downside movement is short term trend correction only.
We prefer to take short position on XAG/USD around $15.07, stop loss at $15.17 and target of $14.87.
