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Just like Gold, Silver breaks all key resistance levels and trading back above $15.20

Pair is currently trading at $15.28 levels. It made intraday high at $15.35 and low at $15.01 levels. Intraday bias remains bullish for the moment. On the top side, key resistance level falls at $15.56 marks. In addition…

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Just like Gold, Silver breaks all key resistance levels and trading back above $15.20
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  • Pair is currently trading at $15.28 levels.

  • It made intraday high at $15.35 and low at $15.01 levels.

  • Intraday bias remains bullish for the moment.

  • On the top side, key resistance level falls at $15.56 marks.

  • In addition, 20D, 30D and 55D EMA heads up, which signals bullish trend.

  • Alternatively, a daily close below $14.96 will turn the bias bearish again.

  • Later today, US will publish NFP job data. This will put direct impact on the parity and provide short term trend directions.

We prefer to take long position in XAG/USD around $15.20, stop loss $15.01 and targets $15.56/$15.92 thereafter.

 

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