FxWirePro: Silver touches $14.90 mark in European hours, U.S. consumer confidence data in focus
XAG/USD is currently trading around $15.03 marks. It made intraday high at $15.09 and low at $14.90 levels. Intraday bias remains bearish till the time pair holds key resistance at $15.22 mark. A daily close above $15.22…
It made intraday high at $15.09 and low at $14.90 levels.
Intraday bias remains bearish till the time pair holds key resistance at $15.22 mark.
A daily close above $15.22 will test key resistances at $15.40, $15.55, $15.86, $16.12 and $16.38 marks respectively.
On the other side, a daily close below $14.87 will take the parity down towards key supports at $14.76, $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 short position on XAG/USD around $15.05, stop loss at $15.12 and target of $14.87/$14.76.
