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- XAG/USD is currently trading around $14.38 marks.
- It made intraday high at $14.41 and low at $14.34 levels.
- Intraday bias remains neutral till the time pair holds key resistance at $14.42 mark.
- A daily close above $14.40 will test key resistances at $14.57, $14.72, $14.78, $14.82, $14.98, $15.10, $15.32 and $15.47 marks respectively.
- On the other side, a daily close below $14.40 will take the parity down towards key supports at $14.27, $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. Current upside movement is short term trend correction only.
We prefer to take long position on XAG/USD only above $14.42, stop loss $14.27 and target of $14.57.
