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- XAG/USD is currently trading around $17.29 marks.
- It made intraday high at $17.30 and low at $17.24 levels.
- Intraday bias remains neutral till the time pair holds key resistance at $17.31 mark.
- A daily close above $17.32 will test key resistances at $17.40, $17.49, $16.67, $17.82, $17.95, $18.12, $18.24, $18.39, $18.52 and $18.63 marks respectively.
- On the other side, a daily close below $17.30 will take the parity down towards key supports at $17.22/$17.01/$16.90/$16.76/$16.57 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. Current downside movement is short term trend correction only.
We prefer to take long position in XAG/USD only above $17.32, stop loss $17.10 and target of $17.67.
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