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FxWirePro: Silver refrains to fall below key support at $15.12, intraday bias remains bullish

  • XAG/USD is currently trading around $15.23 levels.
     
  • It made intraday high at $15.26 and low at $15.12 levels.
     
  • Intraday bias remains bullish for the moment.
     
  • A daily close below $15.12 will tests key supports at $15.01, $14.94 and $14.55 marks respectively.
     
  • Alternatively, reversal from $15.12 will turn the bias slightly bullish and tests key resistances at $15.26/ $15.32 and $15.60 marks.
     
  • Important to note here that, 20D, 30D and 55D EMA heads up, which confirms bullish trend.

We prefer to take long position in XAG/USD around $15.20, stop loss $15.12 and target $15.32 marks.

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