- XAG/USD is currently trading around $17.53 marks.
- It made intraday high at $17.75 and low at $17.38 levels.
- Intraday bias remains bullish for the moment.
- A daily close above $17.40 will test key resistances at $17.75, $17.98, $18.07, $18.18 marks respectively.
- On the other side, a daily close below $17.40 will take the parity down towards key supports at $17.02, $16.70, $16.57, $16.07, $15.90, $15.70, $15.47 and $15.40 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 long position on XAG/USD around $17.47, stop loss at $16.38 and target of $17.75/$17.98.
