- XAG/USD is currently trading around $17.42 marks.
- It made intraday high at $17.55 and low at $17.42 levels.
- Intraday bias remains neutral till the time pair holds key resistance at $17.53 mark.
- A daily close above $17.53 will test key resistances at $17.99/$18.12/$18.26/$18.47 marks respectively.
- On the other side, a daily close below $17.53 will take the parity down towards key supports at $17.32/$17.25/$17.06/$16.99/$16.85/$16.70/$16.57/$16.37/$16.20/$16.05 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
We prefer to go long on XAG/USD around $17.40 with stop loss at $17.25 and target of $17.59/$17.76/$17.99.
