FxWirePro: Silver remains well supported above $15.00 mark, U.S. FOMC meeting minutes in focus
XAG/USD is currently trading around $15.13 marks. It made intraday high at $15.14 and low at $14.86 levels. Intraday bias remains bullish for the moment. A daily close above $15.02 will test key resistances at $15.27, $1…
It made intraday high at $15.14 and low at $14.86 levels.
Intraday bias remains bullish for the moment.
A daily close above $15.02 will test key resistances at $15.27, $15.57, $15.74 and $15.86 marks respectively.
On the other side, a daily close below $15.02 will take the parity down towards key supports at $14.82, $14.68, $14.40, $13.97 and $13.81 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Current upside movement is short term trend correction only.
We prefer to take short position on XAG/USD around $15.15, stop loss at $15.27 and target of $14.82/$14.68.
