- XAG/USD is currently trading around $14.34 marks.
- It made intraday high at $14.49 and low at $14.28 levels.
- Intraday bias remains bearish for the moment.
- A daily close above $14.47 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 $14.47 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 $14.35, stop loss $14.50 and target of $13.99.
