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- XAG/USD is currently trading around $17.42 marks.
- It made intraday high at $17.46 and low at $17.22 levels.
- Intraday bias remains bullish till the time pair holds key support at $17.12 mark.
- A daily close above $17.53 will test key resistances at $17.67, $17.76, $17.90 and $18.19 marks respectively.
- On the other side, a daily close below $17.28 will take the parity down towards key supports at $17.12, $17.08, $16.92 and $16.70 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
We prefer to take short position in XAG/USD around $17.44, stop loss $16.55 and target of $17.12 mark.
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