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- XAG/USD is currently trading around $15.95 levels.
- It made intraday high at $15.98 and low at $15.77 levels.
- Intraday bias remains bullish for the moment.
- Silver fails to sustain below $15.70 and trading around $15.95 levels.
- A sustained close above key resistance will take the parity towards new high at $16.12, $16.20 and $16.52 marks thereafter.
- In addition, 20D, 30D and 55D EMA heads up, which signals bullish trend.
- Alternatively, a daily close below $15.72 will turn the bias slightly bearish and tests $15.56 marks.
We prefer to take long position in XAG/USD around $15.90, stop loss $15.68 and target $16.20/$16.34 levels.
