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- XAG/USD is currently trading around $18.26 marks.
- It made intraday high at $18.72 and low at $18.17 levels.
- Intraday bias remains bearish till the time pair holds key resistance at $18.72 mark.
- A daily close above $18.63 will test key resistances at $19.27, $19.76, $19.98, and $20.10 marks respectively.
- On the other side, a daily close below $18.63 will take the parity down towards key supports at $18.17, $18.02, $17.85 and $17.60 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
We prefer to take short position on XAG/USD around $18.30, stop loss at $18.42 and target of $18.02/$17.85.
