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- XAG/USD is currently trading around $14.63 marks.
- It made intraday high at $14.68 and low at $14.62 levels.
- Intraday bias remains bearish till the time pair holds key resistance at $14.80 mark.
- A daily close above $14.65 will test key resistances at $14.80, $15.09, $15.22, $15.32 and $15.40 marks respectively.
- On the other side, a daily close below $14.65 will take the parity down towards key supports at $14.52, $14.40 and $14.28 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 $14.65, stop loss at $14.80 and target of $14.40.
