FxWirePro: Silver hovers around $15.20 mark, faces key support at $15.12 mark
XAG/USD is currently trading around $15.18 marks. It made intraday high at $15.21 and low at $15.13 levels. Intraday bias remains bullish till the time pair holds key support at $15.12 mark. A daily close above $15.20 wi…
It made intraday high at $15.21 and low at $15.13 levels.
Intraday bias remains bullish till the time pair holds key support at $15.12 mark.
A daily close above $15.20 will test key resistances at $15.32, $15.40, $15.57, $15.62 and $15.84 marks respectively.
On the other side, a daily close below $15.20 will take the parity down towards key supports at $15.12, $14.87, $14.68, $14.52 and $14.40 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 only above $15.22, stop loss at $15.12 and target of $15.40.
