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- XAG/USD is currently trading around $16.99 marks.
- It made intraday high at $17.06 and low at $16.44 levels.
- Intraday bias remains slightly bullish for the moment.
- A daily close above $17.02 will test key resistances at $17.22, $17.48, $17.67, $17.92 and $18.22 marks respectively.
- On the other side, a daily close below $16.67 will take the parity down towards key supports at $16.38, $16.20, $16.02 and $15.87 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 $17.02, stop loss at $17.11 and target of $16.38.
