FxWirePro: Silver trades marginally lower in European hours, downside limited
XAG/USD is currently trading around $15.25 marks. It made intraday high at $15.49 and low at $15.14 levels. Intraday bias remains slightly bearish for the moment. A daily close above $15.40 will test key resistances at $…
It made intraday high at $15.49 and low at $15.14 levels.
Intraday bias remains slightly bearish for the moment.
A daily close above $15.40 will test key resistances at $15.57, $15.74 and $15.86 marks respectively.
On the other side, a daily close below $14.94 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.
We prefer to take long position on XAG/USD around $15.20, stop loss at $15.07 and target of $15.57.
