FxWirePro: Silver hovers around $16.40 mark, consistent close below $16.36 targets requires for $16.17 mark
XAG/USD is currently trading around $16.37 marks. It made intraday high at $16.45 and low at $16.31 levels. Intraday bias remains neutral till the time pair holds key support at $16.27 mark. A daily close above $16.57 wi…
It made intraday high at $16.45 and low at $16.31 levels.
Intraday bias remains neutral till the time pair holds key support at $16.27 mark.
A daily close above $16.57 will test key resistances at $16.62, $16.80 and $16.97 marks respectively.
On the other side, a daily close below $16.36 will take the parity down towards key supports at $16.27, $16.17, $16.02, $15.90, $15.70, $15.47 and $15.40 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
We prefer to take short position on XAG/USD around $16.40, stop loss at $16.52 and target of $16.17.
