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- XAG/USD is currently trading around $14.92 marks.
- It made intraday high at $15.05 and low at $14.90 levels.
- Intraday bias remains bearish till the time pair holds key resistance at $15.10 mark.
- A daily close above $15.05 will test key resistances at $15.15, $15.32, $15.47, $15.52, $15.65, $15.85, $15.96, $16.08, $16.20, $16.40 and $16.55 marks respectively.
- On the other side, a daily close below $14.97 will take the parity down towards key supports at $14.87, $14.77, 14.36, 13.99 and 13.62 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 $14.95, stop loss $15.10 and target of $14.77/$14.54/14.36.
