- XAG/USD is currently trading around $17.70 marks.
- It made intraday high at $17.71 and low at $17.66 levels.
- Intraday bias remains slightly bearish till the time pair holds key resistance $17.92 mark.
- A daily close above $17.84 will test key resistances at $17.92, $18.08, $18.20, $18.32, $18.40, $18.87, $18.98, $19.08 and $19.24 marks respectively.
- On the other side, a daily close below $17.84 will take the parity down towards key supports at $17.62, $17.56, $17.40 and $17.17 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 $17.72, stop loss at $17.92 and target of $17.56/$17.40.