FxWirePro: Silver remains well supported above $14.50 mark, further upside movement likely
XAG/USD is currently trading around $14.70 marks. It made intraday high at $14.72 and low at $14.59 levels. Intraday bias remains bullish till the time pair holds key support at $14.58 mark. A daily close above $14.67 wi…
It made intraday high at $14.72 and low at $14.59 levels.
Intraday bias remains bullish till the time pair holds key support at $14.58 mark.
A daily close above $14.67 will test key resistances at $14.82, $14.98, $15.10, $15.32 and $15.47 marks respectively.
On the other side, a daily close below $14.67 will take the parity down towards key supports at $14.58, $14.40, $14.22, $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 long position on XAG/USD around $14.68, stop loss $14.57 and target of $14.82/$14.98.
