FxWirePro: Silver remains well supported above $15.27 mark, U.S. ADP job data in focus
XAG/USD is currently trading around $15.45 marks. It made intraday high at $15.55 and low at $15.30 levels. Intraday bias remains bullish till the time pair holds key support at $15.27 mark. A daily close above $15.77 wi…
It made intraday high at $15.55 and low at $15.30 levels.
Intraday bias remains bullish till the time pair holds key support at $15.27 mark.
A daily close above $15.77 will test key resistances at $15.86, $16.12 and $16.38 marks respectively.
On the other side, a daily close below $15.47 will take the parity down towards key supports at $15.27, $15.14, $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.
We prefer to take short position on XAG/USD only below $15.27, stop loss at $15.48 and target of $15.11/$15.02/$14.90.
