- XAG/USD is currently trading around $15.86 marks.
- It made intraday high at $16.31 and low at $15.47 levels.
- Intraday bias remains neutral for the moment.
- A daily close above $16.03 will test key resistances at $16.08, $16.15, $16.40 and $16.62 marks respectively.
- On the other side, a daily close below $15.78 will take the parity down towards key supports at $15.72, $15.58, $15.47, $15.40 and $15.32 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
Positioning is inconclusive at this point, with prices offering no clear cut signal to initiate a long or short trade. We will continue to remain on sidelines for the time being.
