- XAG/USD is currently trading around $13.92 marks.
- It made intraday high at $14.13 and low at $13.17 levels.
- Intraday bias remains bullish for the moment.
- A daily close above $14.03 will test key resistances at $14.27, $14.72 and $15.22 marks respectively.
- On the other side, a daily close below $13.26 will take the parity down towards key supports at $12.62, $12.40, $11.70, $11.47, $10.35, $9.62 and $8.45 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 $13.95, stop loss at $14.15 and target of $13.17/$12.90.
