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- XAG/USD is currently trading around $14.97 marks.
- It made intraday high at $15.01 and low at $14.97 levels.
- Intraday bias remains slightly bearish till the time pair holds key resistance at $15.10 mark.
- A daily close above $14.98 will test key resistances at $15.09, $15.22, $15.32, $15.40, $15.57, $15.62 and $15.84 marks respectively.
- On the other side, a daily close below $14.87 will take the parity down towards key supports at $14.68, $14.52 and $14.40 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Current upside movement is short term trend correction only.
We prefer to take short position on XAG/USD around $15.00, stop loss at $15.06 and target of $14.87/$14.68.
