FXWIREPRO: Silver Hits Fresh 5-Month High at $16.19 But Fails to Sustain- Intraday Bias Remains Slightly Bearish

FXWIREPRO: Silver Hits Fresh 5-Month High at $16.19 But Fails to Sustain- Intraday Bias Remains Slightly Bearish

13 April 2016, 09:04
Roberto Jacobs
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FXWIREPRO: Silver Hits Fresh 5-Month High at $16.19 But Fails to Sustain- Intraday Bias Remains Slightly Bearish

  • XAG/USD is currently trading around $15.0160 marks. 
  • It made intraday high at $16.15 and low at $16.01 levels. 
  • Intraday bias remains slightly bullish till the time pair holds immediate support level at $15.98 marks. 
  • On the top side, key resistance is seen at $16.19. A sustained break will take the parity towards $16.34/$17.75 levels. 
  • Alternatively, a daily close below $15.98 will drag the parity back around $15.85/$15.77/$15.68 levels respectively. 
  • Initial support levels are seen at $15.76, $15.73 and $15.32 marks. 
  • Resistance levels are seen at $15.93, $16.34 and $17.75 thereafter.

We prefer to take long position in XAG/USD only above $16.02, stop loss $15.98 and target $16.34 marks.

The material has been provided by InstaForex Company - www.instaforex.com



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