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- XAG/USD is currently trading around $15.31 marks.
- It made intraday high at $15.55 and low at $15.29 levels.
- Intraday bias remains bearish till the time pair holds key resistance at $15.60 mark.
- A daily close above $15.53 will test key resistances at $15.65, $15.89, $15.96, $16.08, $16.20, $16.40 and $16.55 marks respectively.
- On the other side, a daily close below $15.53 will take the parity down towards key supports at $15.32, $15.18, $15.02 and $14.87 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
We prefer to take short position on XAG/USD around $15.35, stop loss $15.60 and target of $15.02.
