FxWirePro: Silver exhibits range bound movement, good to sell on rallies

• XAG/USD is currently trading around $14.86 marks.
   
• It made intraday high at $14.92 and low at $14.85 levels.
   
• Intraday bias remains bearish till the time pair holds key resistance at $14.97 mark.
   
• A daily close above $14.90 will test key resistances at $14.97, $15.09, $15.22, $15.32 and $15.40 marks respectively.
   
• On the other side, a daily close below $14.87 will take the parity down towards key supports at $14.70, $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 $14.88, stop loss at $14.97 and target of $14.70/$14.52.