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FxWirePro: Silver trades in narrow range, stay bullish only above $15.62 mark

  • XAG/USD is currently trading around $15.60 marks.
     
  • It made intraday high at $15.61 and low at $15.54 levels.
     
  • Intraday bias remains slightly bullish till the time pair holds key support at $15.47 mark.
     
  • A daily close above $15.60 will test key resistances at $15.72, $15.84, $15.92, $16.07 and $16.15 marks respectively.
     
  • On the other side, a daily close below $15.60 will take the parity down towards key supports at $15.47,  $15.40, $15.32 and $15.22 marks respectively.
     
  • Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.

    We prefer to take long position on XAG/USD only above $15.62, stop loss $15.47 and target of $15.84.
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