FxWirePro: Silver hits fresh 3-week low at $14.39 mark, consistent close below targets $14.22 mark
XAG/USD is currently trading around $14.42 marks. It made intraday high at $14.51 and low at $14.39 levels. Intraday bias remains slightly bearish till the time pair holds immediate resistance at $14.52 mark. A daily clo…
It made intraday high at $14.51 and low at $14.39 levels.
Intraday bias remains slightly bearish till the time pair holds immediate resistance at $14.52 mark.
A daily close above $14.42 will test key resistances at $14.57, $14.70, $14.82, $14.98, $15.10, $15.32 and $15.47 marks respectively.
On the other side, a daily close below $14.42 will take the parity down towards key supports at $14.22, $14.05, $13.90, $13.82, $13.68 and 13.51 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 short position on XAG/USD only below $14.38, stop loss $14.52 and target of $14.22/$14.05.
