- XAG/USD is currently trading around $15.29 marks.
- It made intraday high at $15.37 and low at $15.28 levels.
- Intraday bias remains bearish till the time pair holds key resistance at $15.42 mark.
- A daily close above $15.34 will test key resistances at $15.42, $15.47, $15.68, $15.87 and $15.96 marks respectively.
- On the other side, a daily close below $15.34 will take the parity down towards key supports at $15.17, $15.08, $14.97, $14.85 and $14.72 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 $15.32, stop loss $15.42 and target of $15.22/$15.17.
