FxWirePro: Silver Fails to Break Key Support at $15.98, Intraday Bias Remains Bullish

FxWirePro: Silver Fails to Break Key Support at $15.98, Intraday Bias Remains Bullish

14 April 2016, 07:48
Roberto Jacobs
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FxWirePro: Silver Fails to Break Key Support at $15.98, Intraday Bias Remains Bullish

  • XAG/USD is currently trading around $15.05 marks. 
  • It made intraday high at $16.21 and low at $15.99 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 $16.17. A sustained break will take the parity up 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 $15.98, $15.76 and $15.73 marks. 
  • Resistance levels are seen at $16.17, $16.34 and $17.75 thereafter.

We prefer to take long position in XAG/USD at $16.03, stop loss $15.98 and target $16.17/ $16.34 marks.

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


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