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- XAG/USD is currently trading around $14.57 marks.
- It made intraday high at $14.62 and low at $14.53 levels.
- Intraday bias remains bearish till the time pair holds immediate resistance at $14.72 mark.
- A daily close above $14.60 will test key resistances at $14.70, $14.82, $14.98, $15.10, $15.32 and $15.47 marks respectively.
- On the other side, a daily close below $14.60 will take the parity down towards key supports at $14.40, $14.22, $14.07, $13.90, $13.82, $13.68 and 13.51 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 $14.60, stop loss $14.72 and target of $14.40/$14.22.
