FxWirePro: Silver touches $12.74 mark in European hours; hits lowest level since July 01, 2009
XAG/USD is currently trading around $13.35 marks. It made intraday high at $15.26 and low at $13.12 levels. Intraday bias remains bearish for the moment. A daily close above $14.72 will test key resistances at $15.22, $1…
It made intraday high at $15.26 and low at $13.12 levels.
Intraday bias remains bearish for the moment.
A daily close above $14.72 will test key resistances at $15.22, $15.86, $16.35, $16.62, $16.87, $17.02 and $17.27 marks respectively.
On the other side, a daily close below $13.50 will take the parity down towards key supports at $12.46, $12.06, $11.92, $11.50, $10.35 and $8.45 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 $13.25, stop loss at $15.27 and target of $11.92/$11.50/$10.35.
