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- XAG/USD is currently trading around $16.19 marks.
- It made intraday high at $16.34 and low at $16.11 levels.
- Intraday bias remains bearish till the time pair holds immediate resistance at $16.48 marks.
- A daily close above $16.38 will test key resistances at $16.48/$16.72/$16.87/$16.99/$17.08/$17.22/$17.45/$17.82/$18.25/$18.48/$18.99/$19.29/$19.52 marks respectively.
- On the other side, a daily close below $16.20 will take the parity down towards key supports at $15.88/$15.76/$15.32/$15.01 marks respectively.
We prefer to take short position in XAG/USD around $16.25, stop loss at $16.38 and target of $16.01/$15.88/$15.76.
