FxWirePro: XAG/USD hovers around key support at $15.06 mark, sustained close below requires for downside rally

• XAG/USD is currently trading around $15.06 marks.
   
• It made intraday high at $15.14 and low at $15.04 levels.
   
• Intraday bias remains slightly bearish for the moment.
   
• A daily close above $15.06 will test key resistances at $15.17, $15.28, $15.32, $15.47 and $15.62 marks respectively.
   
• On the other side, a daily close below $15.06 will take the parity down towards key supports at $14.87, $14.80 and $14.68 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 take short position on XAG/USD only below $15.04, stop loss at $15.15 and target of $14.87.