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- XAG/USD is currently trading around $14.38 marks.
- It made intraday high at $14.41 and low at $14.27 levels.
- Intraday bias remains slightly bullish till the time pair holds key support at $14.27 mark.
- A daily close above $14.29 will test key resistances at $14.47, $14.70, $14.98, $15.10, $15.32 and $15.47 marks respectively.
- On the other side, a daily close below $14.29 will take the parity down towards key supports at $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 short position on XAG/USD around 14.45, stop loss $14.55 and target of $14.27/$14.07.
