FxWirePro: Silver remains volatile during European hours, faces immediate support at $14.17 mark
XAG/USD is currently trading around $14.21 marks. It made intraday high at $14.26 and low at $14.17 levels. Intraday bias remains slightly bullish till the time pair holds key support at $14.17 mark. A daily close above …
It made intraday high at $14.26 and low at $14.17 levels.
Intraday bias remains slightly bullish till the time pair holds key support at $14.17 mark.
A daily close above $14.21 will test key resistances at $14.42, $14.57, $14.72, $14.78, $14.82, $14.98, $15.10, $15.32 and $15.47 marks respectively.
On the other side, a daily close below $14.21 will take the parity down towards key supports at $14.17, $14.07, $13.90, $13.82, $13.68 and 13.51 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 short position on XAG/USD only below $14.17, stop loss $14.28 and target of $13.90.
