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FxWirePro: Silver falls gradually against U.S. dollar, faces immediate support at $14.57 mark

  • XAG/USD is currently trading around $14.64 marks.
     
  • It made intraday high at $14.73 and low at $14.64 levels.
     
  • Intraday bias remains bearish till the time pair holds key resistance at $14.77 mark.
     
  • A daily close above $14.73 will test key resistances at $14.78, $14.92, $15.08 and $15.27 marks respectively.
     
  • On the other side, a daily close below $14.73 will take the parity down towards key supports at $14.57, $14.47, $14.35, $14.22, $14.17 and $14.07 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 $14.58, stop loss $14.47 and target of $14.78/$14.92/$15.02.

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January 31 00:00 UTC 604700604700m

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2016 bln ARS

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