FxWirePro: Silver remains well supported above $15.20 mark, stay long
XAG/USD is currently trading around $15.35 marks. It made intraday high at $15.51 and low at $15.20 levels. Intraday bias remains bullish till the time pair holds key support at $15.18 mark. A daily close above $15.32 wi…
It made intraday high at $15.51 and low at $15.20 levels.
Intraday bias remains bullish till the time pair holds key support at $15.18 mark.
A daily close above $15.32 will test key resistances at $15.55, $15.86, $16.12 and $16.38 marks respectively.
On the other side, a daily close below $15.16 will take the parity down towards key supports at $15.02, $14.87, $14.76, $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.
We prefer to take long position on XAG/USD around $15.30, stop loss at $15.18 and target of $15.55/$15.86.
