- XAG/USD is currently trading around $15.48 marks.
- It made intraday high at $15.84 and low at $15.41 levels.
- Intraday bias remains bearish till the time pair holds key resistance at $15.99 mark.
- A daily close above $15.81 will test key resistances at $16.35, $16.62, $16.87, $17.02, $17.27, $17.40, $17.67, $17.92 and $18.22 marks respectively.
- On the other side, a daily close below $15.81 will take the parity down towards key supports at $15.40, $15.17, $15.00 and $14.80 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 around $15.50, stop loss at $15.85 and target of $15.00/$14.92.
