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FxWirePro: Silver remains highly volatile in early hours of Asia, faces key support at $15.02 mark

XAG/USD is currently trading around $15.16 marks. It made intraday high at $15.29 and low at $15.10 levels. Intraday bias remains bearish for the moment. A daily close above $15.32 will test key resistances at $15.49, $1…

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FxWirePro: Silver remains highly volatile in early hours of Asia, faces key support at $15.02 mark
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  • XAG/USD is currently trading around $15.16 marks.
     
  • It made intraday high at $15.29 and low at $15.10 levels.
     
  • Intraday bias remains bearish for the moment.
     
  • A daily close above $15.32 will test key resistances at $15.49, $15.57 and $15.68 marks respectively.
     
  • On the other side, a daily close below $15.22 will take the parity down towards key supports at $15.10, $15.02 and $14.87 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 $15.18, stop loss at $15.32 and target of $15.02/$14.97.

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