FxWirePro: Silver hits fresh 4-week high at $14.86 mark, U.S. ISM non – manufacturing PMI data in focus
XAG/USD is currently trading around $14.82 marks. It made intraday high at $14.86 and low at $14.76 levels. Intraday bias remains neutral till the time pair holds key resistance at $14.86 mark. A daily close above $14.79…
It made intraday high at $14.86 and low at $14.76 levels.
Intraday bias remains neutral till the time pair holds key resistance at $14.86 mark.
A daily close above $14.79 will test key resistances at $14.85, $14.97, $15.09, $15.22, $15.32 and $15.40 marks respectively.
On the other side, a daily close below $14.79 will take the parity down towards key supports at $14.55, 44.40, $14.27, $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 short position on XAG/USD around $14.84, stop loss at $14.92 and target of $14.70.
