- XAG/USD is currently trading around $15.7160 levels.
- It made intraday high at $15.83 and low at $15.69 levels.
- Intraday bias remains bearish for the moment.
- Silver fails to sustain above 4- month high at $16.12 and trading around $16.72 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.
Positioning is inconclusive at this point, with prices offering no clear cut signal to initiate a long or short trade. We will continue to remain on sidelines for the time being.
