FxWirePro: Silver falls in European hours, consistent close above $15.02 requires for upside rally
XAG/USD is currently trading around $14.91 marks. It made intraday high at $15.01 and low at $14.90 levels. Intraday bias remains neutral till the time pair holds key resistance at $14.37 mark. A daily close above $15.02…
It made intraday high at $15.01 and low at $14.90 levels.
Intraday bias remains neutral till the time pair holds key resistance at $14.37 mark.
A daily close above $15.02 will test key resistances at $15.09, $15.22, $15.32 and $15.40 marks respectively.
On the other side, a daily close below $14.84 will take the parity down towards key supports at $14.62, $14.47, $14.28, $14.22, $14.12 and $13.98 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 $14.85, stop loss at $14.74 and target of $15.22.
