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- XAG/USD is currently trading around $17.60 marks.
- It made intraday high at $17.72 and low at $17.52 levels.
- Intraday bias remains bearish till the time pair holds key resistance at $17.72 mark.
- A daily close above $17.58 will test key resistances at $17.72, $17.98, $18.08, $18.22, $18.40, $18.87, $18.98, $19.08 and $19.24 marks respectively.
- On the other side, a daily close below $17.58 will take the parity down towards key supports at $17.47, $17.32, $17.17 and $16.98 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 on XAG/USD around $17.62, stop loss at $17.75 and target of $17.47/$17.32.
