FxWirePro: Silver stabilizes above $15.50 mark, stay long
XAG/USD is currently trading around $15.56 marks. It made intraday high at $15.63 and low at $15.34 levels. Intraday bias remains bullish for the moment. A daily close above $15.40 will test key resistances at $15.57, $1…
It made intraday high at $15.63 and low at $15.34 levels.
Intraday bias remains bullish for the moment.
A daily close above $15.40 will test key resistances at $15.57, $15.74 and $15.86 marks respectively.
On the other side, a daily close below $14.94 will take the parity down towards key supports at $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 long position on XAG/USD around $15.52, stop loss at $15.32 and target of $15.86.
