FxWirePro: XAG/USD remains well supported above $14.00 mark, stay bullish only above $14.28
XAG/USD is currently trading around $14.20 marks. It made intraday high at $14.20 and low at $13.98 levels. Intraday bias remains bullish till the time pair holds key support at $13.98 mark. A daily close above $14.13 wi…
It made intraday high at $14.20 and low at $13.98 levels.
Intraday bias remains bullish till the time pair holds key support at $13.98 mark.
A daily close above $14.13 will test key resistances at $14.28, $14.47, $14.70, $14.98, $15.10, $15.32 and $15.47 marks respectively.
On the other side, a daily close below $14.13 will take the parity down towards key supports at $13.98, $13.85, $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. Current upside movement is short term trend correction only.
We prefer to take long position on XAG/USD only above $14.28, stop loss $13.98 and target of $14.47.
