FxWirePro: Silver trades in narrow range, stay bearish

• XAG/USD is currently trading around $14.38 marks.
   
• It made intraday high at $14.43 and low at $14.38 levels.
   
• Intraday bias remains neutra till the time pair holds key support at $14.37 mark.
   
• A daily close above $14.40 will test key resistances at $14.52, $14.68, $14.85, $14.97, $15.09, $15.22, $15.32 and $15.40 marks respectively.
   
• On the other side, a daily close below $14.40 will take the parity down towards key supports at $14.28, $14.12 and $13.98 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 $14.42, stop loss at $14.55 and target of $14.28/$14.12.