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- XAG/USD is currently trading around $14.35 marks.
- It made intraday high at $14.72 and low at $14.19 levels.
- Intraday bias remains neutral for the moment.
- A daily close above $14.30 will test key resistances at $14.72, $14.90, $15.06, $15.22 and $15.57 marks respectively.
- On the other side, a daily close below $14.29 will take the parity down towards key supports at $13.80, $13.62, $13.17 and $12.62 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 $14.35, stop loss at $14.50 and target of $13.80.
