FxWirePro: Silver trades in narrow range, faces strong resistance at $18.22

• XAG/USD is currently trading around $18.18 marks.
   
• It made intraday high at $18.23 and low at $18.18 levels.
   
• Intraday bias remains neutral till the time pair holds key resistance at $18.22 mark.
   
• A daily close above $18.22 will test key resistances at $18.27/$18.48/$18.72/$18.88 marks respectively.
   
• On the other side, a daily close below $18.22 will take the parity down towards key supports at $18.01/$17.90/$17.72/$17.51/$17.42/$17.22/$17.09/$16.87/$16.65/$16.48/$16.36/$16.23/$15.85 marks respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. Current downside movement is short term trend correction only.

We prefer to go long on XAG/USD only above $18.22 with stop loss at $17.98 and target of $18.48.