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- XAG/USD is currently trading around $15.74 marks.
- It made intraday high at $15.82 and low at $15.72 levels.
- Intraday bias remains slightly bearish till the time pair holds key resistance at $15.84 mark.
- A daily close above $15.80 will test key resistances at $15.92, $16.07 and $16.15 marks respectively.
- On the other side, a daily close below $15.80 will take the parity down towards key supports at $15.62, $15.48, $15.30 and $15.22 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 short position on XAG/USD only below $15.72, stop loss $15.84 and target of $15.62/$15.48/$15.40.
