- XAG/USD is currently trading around $14.60 marks.
- It made intraday high at $14.62 and low at $14.53 levels.
- Intraday bias remains neutral till the time pair holds key support at $14.52 mark.
- A daily close above $14.58 will test key resistances at $14.78, $14.92, $15.08 and $15.27 marks respectively.
- On the other side, a daily close below $14.58 will take the parity down towards key supports at $14.52, $14.47, $14.40, $14.35, $14.22, $14.17 and $14.07 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 $14.65, stop loss $14.72 and target of $14.40.
