- XAG/USD is currently trading around $17.18 marks.
- It made intraday high at $17.26 and low at $17.15 levels.
- Intraday bias remains neutral for the moment.
- A daily close above $17.22 will test key resistances at $17.48, $17.67, $17.92 and $18.22 marks respectively.
- On the other side, a daily close below $17.22 will take the parity down towards key supports at $17.08, $16.87, $16.68, $16.40, $16.22, $16.02 and $15.87 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 take short position on XAG/USD only below $17.15, stop loss at $17.27 and target of $17.02/$16.87/$16.68.
