FxWirePro: Silver rises sharply in European hours, stay bullish only above $14.70 mark

• XAG/USD is currently trading around $14.66 marks.
   
• It made intraday high at $14.69 and low at $14.49 levels.
   
• Intraday bias remains neutral till the time pair holds immediate resistance at $14.70 mark.
   
• A daily close above $14.70 will test key resistances at $14.82, $14.98, $15.10, $15.32 and $15.47 marks respectively.
   
• On the other side, a daily close below $14.54 will take the parity down towards key supports at $14.42, $14.22, $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.

We prefer to take long position on XAG/USD only above $14.70, stop loss $14.48 and target of $14.98.