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- XAG/USD is currently trading around $17.16 marks.
- It made intraday high at $17.26 and low at $17.14 levels.
- Intraday bias remains bearish till the time pair holds key resistance at $17.36 mark.
- A daily close above $17.26 will test key resistances at $17.36/$17.48/$17.63/$17.72/$17.98 marks respectively.
- On the other side, a daily close below $17.26 will take the parity down towards key supports at $17.06/$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.
We prefer to go short on XAG/USD around $17.20 with stop loss at $17.36 and target of $16.88.
