FxWirePro: Silver trades in narrow range, U.S. NFP job data in focus
XAG/USD is currently trading around $14.85 marks. It made intraday high at $14.88 and low at $14.83 levels. Intraday bias remains neutral till the time pair holds key resistance at $14.87 mark. A daily close above $14.87…
It made intraday high at $14.88 and low at $14.83 levels.
Intraday bias remains neutral till the time pair holds key resistance at $14.87 mark.
A daily close above $14.87 will test key resistances at $14.94, $15.02, $15.08, $15.22 and $15.40 marks respectively.
On the other side, a daily close below $14.87 will take the parity down towards key supports at $14.78, $14.62, $14.55, 44.40, $14.27, $14.22, $14.12 and $13.98 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 long position on XAG/USD only above $14.89, stop loss at $14.70 and target of $15.02/$15.08/$15.22.
