FxWirePro: Silver remains well supported above $15.20 mark, sustained close above $15.27 requires for upside rally
XAG/USD is currently trading around $15.27 marks. It made intraday high at $15.30 and low at $15.19 levels. Intraday bias remains neutral till the time pair holds key resistance at $15.27 mark. A daily close above $15.27…
It made intraday high at $15.30 and low at $15.19 levels.
Intraday bias remains neutral till the time pair holds key resistance at $15.27 mark.
A daily close above $15.27 will test key resistances at $15.40, $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 $15.08, $15.02, $14.87, $14.62 and $14.48 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 long position on XAG/USD around $15.25, stop loss at $15.17 and target of $15.40/$15.47.
