- XAG/USD is currently trading around $14.55 marks.
- It made intraday high at $14.59 and low at $14.46 levels.
- Intraday bias remains neutral till the time pair holds immediate resistance at $14.58 mark.
- A daily close above $14.72 will test key resistances at $14.72, $14.78, $14.82, $14.98, $15.10, $15.32 and $15.47 marks respectively.
- On the other side, a daily close below $14.51 will take the parity down towards key supports at $14.40, $14.35, $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. Current upside movement is short term trend correction only.
We prefer to take long position on XAG/USD only above $14.60, stop loss $14.45 and target of $14.98.
