- XAG/USD is currently trading around $13.95 marks.
- It made intraday high at $14.17 and low at $13.93 levels.
- Intraday bias remains bearish for the moment.
- A daily close above $14.48 will test key resistances at $14.72, $14.90, $15.06, $15.22 and $15.57 marks respectively.
- On the other side, a daily close below $14.05 will take the parity down towards key supports at $13.81, $13.62, $13.17 and $12.62 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
We prefer to take short position on XAG/USD around $13.98, stop loss at $14.18 and target of $13.81/$13.62/$13.40.