FxWirePro: XAG/USD hovers around $18.00 mark, good to sell on rallies

• XAG/USD is currently trading around $18.01 marks.
• It made intraday high at $18.14 and low at $17.90 levels.
• Intraday bias remains neutral till the time pair holds key support at $17.92 mark.
• A daily close above $17.92 will test key resistances at $18.22, $18.47, $18.87, $18.98, $19.08 and $19.24 marks respectively.
• On the other side, a daily close below $17.92 will take the parity down towards key supports at $17.78, $17.70, $17.62 and $17.47 marks respectively.
• Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.

We prefer to take short position on XAG/USD around $18.04, stop loss at $18.15 and target of $17.70.