FxWirePro: Silver reverses previous gain against U.S. dollar, U.S. retail sales data in focus
XAG/USD is currently trading around $15.44 marks. It made intraday high at $15.78 and low at $15.35 levels. Intraday bias remains bearish for the moment. A daily close above $15.77 will test key resistances at $15.86, $1…
It made intraday high at $15.78 and low at $15.35 levels.
Intraday bias remains bearish for the moment.
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 $15.77 will take the parity down towards key supports at $15.40, $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 around $15.57, stop loss at $15.80 and target of $15.40/$15.14/$14.90.
