FxWirePro: Silver rises sharply in European hours, stay bullish
XAG/USD is currently trading around $14.52 marks. It made intraday high at $14.52 and low at $14.35 levels. Intraday bias remains bullish for the moment. A daily close above $14.36 will test key resistances at $14.57, $1…
It made intraday high at $14.52 and low at $14.35 levels.
Intraday bias remains bullish for the moment.
A daily close above $14.36 will test key resistances at $14.57, $14.72, $14.78 and $15.08 marks respectively.
On the other side, a daily close below $14.36 will take the parity down towards key supports at $14.22, $14.17, $14.07, $13.90, $13.82, $13.68 and 13.51 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Current upside movement is short term trend correction only.
We prefer to take long position on XAG/USD around $14.49, stop loss $14.32 and target of $15.08.
