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- XAG/USD is currently trading around $14.46 marks.
- It made intraday high at $14.51 and low at $14.37 levels.
- Intraday bias remains slightly bearish for the moment.
- A daily close above $14.51 will test key resistances at $14.70, $14.98, $15.10, $15.32 and $15.47 marks respectively.
- On the other side, a daily close below $14.41 will take the parity down towards key supports at $14.32, $14.18, $14.07 and $13.99 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 $14.50, stop loss $14.70 and target of $14.32/$14.18.
