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- XAG/USD is currently trading around $15.30 marks.
- It made intraday high at $15.44 and low at $15.29 levels.
- Intraday bias remains bearish till the time pair holds key resistance at $15.42 mark.
- A daily close above $15.42 will test key resistances at $15.47, $15.62 and $15.84 marks respectively.
- On the other side, a daily close below $15.42 will take the parity down towards key supports at $15.32, $15.28, $15.22, $15.07 and $14.90 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 around $15.34, stop loss at $15.47 and target of $15.22/$15.07.
