FxWirePro: Silver rejects key support at $14.30 mark, bias remains slightly bullish
XAG/USD is currently trading around $14.68 marks. It made intraday high at $14.71 and low at $14.57 levels. Intraday bias remains slightly bullish for the moment. A daily close above $14.62 will test key resistances at $…
It made intraday high at $14.71 and low at $14.57 levels.
Intraday bias remains slightly bullish for the moment.
A daily close above $14.62 will test key resistances at $14.82, $15.05, $15.15, $15.32 and $15.47 marks respectively.
On the other side, a daily close below $14.62 will take the parity down towards key supports at $14.47, $14.31, $14.12, 13.99 and 13.62 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Curent upside movement is short term trend correction only.
We prefer to take long position on XAG/USD around $14.65, stop loss $14.55 and target of $14.82/$14.90.
