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- XAG/USD is currently trading around $14.42 marks.
- It made intraday high at $14.51 and low at $14.39 levels.
- Intraday bias remains slightly bearish till the time pair holds immediate resistance at $14.52 mark.
- A daily close above $14.42 will test key resistances at $14.57, $14.70, $14.82, $14.98, $15.10, $15.32 and $15.47 marks respectively.
- On the other side, a daily close below $14.42 will take the parity down towards key supports at $14.22, $14.05, $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.
We prefer to take short position on XAG/USD only below $14.38, stop loss $14.52 and target of $14.22/$14.05.
