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FxWirePro: Silver moves in stiff boundaries, sustained close above $14.60 requires for upside rally

  • XAG/USD is currently trading around $14.57 marks.
     
  • It made intraday high at $14.59 and low at $14.49 levels.
     
  • Intraday bias remains neutral till the time pair holds key resistance at $14.62 mark.
     
  • A daily close above $14.60 will test key resistances at $14.72, $14.78, $14.92 and $15.08 marks respectively.
     
  • On the other side, a daily close below $14.47 will take the parity down towards key supports at $14.35, $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. Current upside movement is short term trend correction only.

We prefer to take short position on XAG/USD around $14.58, stop loss $14.64 and target of $14.48/$14.35.

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January 22 19:00 UTC 562843562843m

ARTrade Balance

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-1541 %

January 31 00:00 UTC 551023551023m

ARAnnual Primary Balance*

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2016 bln ARS

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Bln AR bln ARS

January 31 00:00 UTC 551023551023m

ARAnnual Primary Balance*

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2016 bln ARS

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Bln AR bln ARS

January 31 00:00 UTC 551023551023m

ARAnnual Primary Balance*

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2016 bln ARS

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Bln AR bln ARS

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