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- XAG/USD is currently trading around $15.83 marks.
- It made intraday high at $15.85 and low at $15.65 levels.
- Intraday bias remains slightly bullish till the time pair holds key support at $15.65 mark.
- A daily close above $15.80 will test key resistances at $15.96, $16.08, $16.20, $16.40 anss $16.55 marks respectively.
- On the other side, a daily close below $15.80 will take the parity down towards key supports at $15.65, $15.57, $15.47 and $15.32 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Current upside movement is short term trend correction only.
We prefer to take long position on XAG/USD only above $15.89, stop loss $15.65 and target of $16.20.
