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- XAG/USD is currently trading around $17.21 marks.
- It made intraday high at $17.26 and low at $17.08 levels.
- Intraday bias remains neutral till the time pair holds key resistance at $17.32 mark.
- A daily close above $17.32 will test key resistances at $17.32/$17.40/$17.47/$17.63/$17.72/$17.98 marks respectively.
- On the other side, a daily close below $17.11 will take the parity down towards key supports at $17.01/$16.88/$16.72/$16.40/$16.28/$16.14 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Current upside movement is short term trend correction only.
We prefer to go long on XAG/USD only above $17.32 with stop loss at $17.01 and target of $17.40/$17.63.
