FxWirePro: XAG/USD back above $14.20 mark, further sideways movement likely

• XAG/USD is currently trading around $14.19 marks.
   
• It made intraday high at $14.21 and low at $14.10 levels.
   
• Intraday bias remains neutral till the time pair holds key resistance at $14.23 mark.
   
• A daily close above $14.23 will test key resistances at $14.22, $14.28, $14.47, $14.70, $14.98, $15.10, $15.32 and $15.47 marks respectively.
   
• On the other side, a daily close below $14.04 will take the parity down towards key supports at $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 14.22, stop loss $14.10 and target of $14.32/$14.47.