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- XAG/USD is currently trading around $16.99 marks.
- It made intraday high at $16.99 and low at $16.93 levels.
- Intraday bias remains slightly bullish till the time pair holds immediate support at $16.87 mark.
- A daily close above $16.95 will test key resistances at $17.22, $17.40 and $17.52 marks respectively.
- On the other side, a daily close below $16.95 will take the parity down towards key supports at $16.87, $16.70, $16.55, $16.48, $16.36, $16.28, $16.15 and $16.02 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 long position in XAG/USD only above $17.02, stop loss $16.85 and target of $17.11/$17.22 mark.
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