FxWirePro: Silver touches key resistance at $15.72 mark, sustained close above requires for upside rally
XAG/USD is currently trading around $15.70 marks. It made intraday high at $15.72 and low at $15.53 levels. Intraday bias remains bullish till the time pair holds key support at $15.47 mark. A daily close above $15.72 wi…
It made intraday high at $15.72 and low at $15.53 levels.
Intraday bias remains bullish till the time pair holds key support at $15.47 mark.
A daily close above $15.72 will test key resistances at $15.87, $15.96, $16.04, $16.20 and $16.32 marks respectively.
On the other side, a daily close below $15.54 will take the parity down towards key supports at $15.47, $15.40, $15.30, $15.20 and $15.02 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
We prefer to take long position on XAG/USD around $15.68, stop loss $15.52 and target of $15.96/$16.04.
