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- XAG/USD is currently trading around $15.39 marks.
- It made intraday high at $15.45 and low at $15.37 levels.
- Intraday bias remains neutral for the moment.
- A daily close above $15.40 will test key resistances at $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 $15.28 will take the parity down towards key supports at $15.22, $15.15, $15.02 and $14.87 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 $15.40, stop loss $15.50 and target of $15.22.
