FxWirePro: XAG/USD back above $14.30 mark, sustained close above requires for upside rally
XAG/USD is currently trading around $14.32 marks. It made intraday high at $14.33 and low at $14.29 levels. Intraday bias remains bullish for the moment. A daily close above $14.32 will test key resistances at $14.42, $1…
It made intraday high at $14.33 and low at $14.29 levels.
Intraday bias remains bullish for the moment.
A daily close above $14.32 will test key resistances at $14.42, $14.57, $14.72 and $14.78 marks respectively.
On the other side, a daily close below $14.32 will take the parity down towards key supports at $14.22, $14.17, $14.07, $13.90, $13.82, $13.68 and 13.51 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 $14.30, stop loss $14.21 and target of $14.57.
