FxWirePro: Silver rises gradually against U.S. dollar, stay bearish
XAG/USD is currently trading around $15.30 marks. It made intraday high at $15.60 and low at $15.16 levels. Intraday bias remains bearish till the time pair holds key resistance at $16.15 mark. A daily close above $15.58…
It made intraday high at $15.60 and low at $15.16 levels.
Intraday bias remains bearish till the time pair holds key resistance at $16.15 mark.
A daily close above $15.58 will test key resistances at $15.87/$16.02/$16.22/$16.32/$16.40/$16.58/$16.72/$16.88/$17.00/$17.08/$17.22/$17.49/$17.68 marks respectively.
On the other side, a daily close below $15.58 will take the parity down towards key supports at $15.04/$14.90/$14.82/$14.74 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 go short on XAG/USD around $15.35 with stop loss at $15.50 and target of $14.90.
