FxWirePro: Silver touches $15.22 mark in European mark, U.S. Fed Chair Powell’s speech in focus
XAG/USD is currently trading around $15.18 marks. It made intraday high at $15.21 and low at $14.90 levels. Intraday bias remains bullish for the moment. A daily close above $15.02 will test key resistances at $15.22, $1…
It made intraday high at $15.21 and low at $14.90 levels.
Intraday bias remains bullish for the moment.
A daily close above $15.02 will test key resistances at $15.22, $15.40, $15.57, $15.74 and $15.86 marks respectively.
On the other side, a daily close below $15.02 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. Current upside movement is short term trend correction only.
We prefer to take long position on XAG/USD only above $15.22, stop loss at $14.88 and target of $15.40/$15.57.
