- XAG/USD is currently trading around $14.82 marks.
- It made intraday high at $14.83 and low at $14.72 levels.
- Intraday bias remains neutral till the time pair holds key resistance at $14.85 mark.
- A daily close above $14.85 will test key resistances at $15.08, $15.22 and $15.40 marks respectively.
- On the other side, a daily close below $14.72 will take the parity down towards key supports at $14.62, $14.55, 14.40, $14.27, $14.22, $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. Current upside movement is short term trend correction only.
We prefer to take long position on XAG/USD around $14.80, stop loss at $14.70 and target of $14.99/$15.08/$15.22.