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- XAG/USD is currently trading around $15.80 marks.
- It made intraday high at $15.83 and low at $15.74 levels.
- Intraday bias remains bullish till the time pair holds key support at $15.74 levels.
- A daily close above $15.75 will test key resistances at $15.88/$15.95/$16.02/$16.19/$16.25/$16.32/$16.46/$16.62/$16.76 marks respectively.
- On the other side, a daily close below $15.75 will take the parity down towards key supports at $15.54/$15.32/$15.01 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 around $15.80 with stop loss at $15.74 and target of $15.88/$16.02.
