- XAG/USD is currently trading around $15.64 marks.
- It made intraday high at $15.73 and low at $15.64 levels.
- Intraday bias remains slightly bearish till the time pair holds key resistance at $15.72 mark.
- A daily close above $15.72 will test key resistances at $15.78, $15.92, $16.07 and $16.15 marks respectively.
- On the other side, a daily close below $15.65 will take the parity down towards key supports at $15.57, $15.48, $15.30 and $15.22 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. Current downside movement is short term trend correction only.
We prefer to take short position on XAG/USD only below $15.62, stop loss $15.74 and target of $15.48/$15.40.
