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- XAG/USD is currently trading around $18.96 marks.
- It made intraday high at $18.98 and low at $18.83 levels.
- Intraday bias remains bearish till the time pair holds key resistance at $19.27 levels.
- A daily close below $18.88 will take the parity down towards key supports at $18.68, $18.17, $17.69, $17.50 and $17.08 marks respectively.
- On the other side, a daily close above $19.27 will test key resistances at $19.46/$19.88/$20.05/$20.22/$20.32/$20.46/$20.67/$20.78/$21.09 and $21.46 marks respectively.
- Important to note here that in a daily chart 20D, 30D and 55D EMA heads up and confirms the bullish trend. Current downside movement is short term trend correction only.
We prefer to go short on XAG/USD around $18.97 with stop loss at $19.27 and target of $18.68/$18.17.
