- XAG/USD is currently trading around $18.50 marks.
- It made intraday high at $18.62 and low at $18.28 levels.
- Intraday bias remains slightly bearish till the time pair holds key resistance at $18.62 mark.
- A daily close above $18.34 will test key resistances at $18.61, $18.78 and $19.02 marks respectively.
- On the other side, a daily close below $18.34 will take the parity down towards key supports at $18.22, $18.04, $17.90, $17.40 and $17.02 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 $18.55, stop loss at $18.63 and target of $18.28.
