FxWirePro: Silver trade marginally higher in European hours, faces immediate resistance at $15.84 mark
XAG/USD is currently trading around $15.82 marks. It made intraday high at $15.82 and low at $15.72 levels. Intraday bias remains bullish till the time pair holds key support at $15.47 mark. A daily close above $15.80 wi…
It made intraday high at $15.82 and low at $15.72 levels.
Intraday bias remains bullish till the time pair holds key support at $15.47 mark.
A daily close above $15.80 will test key resistances at $15.84, $15.92, $16.07 and $16.15 marks respectively.
On the other side, a daily close below $15.80 will take the parity down towards key supports at $15.62, $15.47, $15.40, $15.32 and $15.22 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 $15.80, stop loss $15.70 and target of $15.92/$16.01.
