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- XAG/USD is currently trading around $18.36 marks.
- It made intraday high at $18.41 and low at $18.35 levels.
- Intraday bias remains neutral till the time pair holds key resistance at $18.48 mark.
- A daily close above $18.37 will test key resistances at $18.48/$18.88/$18.97 marks respectively.
- On the other side, a daily close below $18.37 will take the parity down towards key supports at $18.20/$18.07/$17.97/$17.80/$17.68/$17.51/$17.44/$17.38/$17.22 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 go short on XAG/USD around $18.38, stop loss at $18.48 and target of $18.25.
