FxWirePro: Silver moves in stiff boundaries, stay bullish only above $15.15 mark
XAG/USD is currently trading around $15.09 marks. It made intraday high at $15.13 and low at $15.00 levels. Intraday bias remains neutral for the moment. A daily close above $15.11 will test key resistances at $15.17, $1…
It made intraday high at $15.13 and low at $15.00 levels.
Intraday bias remains neutral for the moment.
A daily close above $15.11 will test key resistances at $15.17, $15.28, $15.32, $15.47 and $15.62 marks respectively.
On the other side, a daily close below $15.11 will take the parity down towards key supports at $15.00, $14.87, $14.80 and $14.68 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. Current downside movement is short term trend correction only.
We prefer to take short position on XAG/USD around $15.10, stop loss at $15.16 and target of $14.87.
