FxWirePro: Silver remains well supported below $14.80 mark, consistent close above targets $15.10 marks
XAG/USD is currently trading around $14.74 marks. It made intraday high at $14.79 and low at $14.65 levels. Intraday bias remains neutral till the time pair holds key resistance at $14.82 marks. A daily close above $14.7…
It made intraday high at $14.79 and low at $14.65 levels.
Intraday bias remains neutral till the time pair holds key resistance at $14.82 marks.
A daily close above $14.77 will test key resistances at $14.82, $15.10, $15.32 and $15.47 marks respectively.
On the other side, a daily close below $14.77 will take the parity down towards key supports at $14.57, $14.34, $14.12, 13.99 and 13.62 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Curent upside movement is short term trend correction only.
We prefer to take long position on XAG/USD only above $14.82, stop loss $14.62 and target of $15.10.
