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- XAG/USD is currently trading around $16.93 marks.
- It made intraday high at $17.16 and low at $16.92 levels.
- Intraday bias remains bearish till the time pair holds key resistance at $17.20 mark.
- A daily close above $17.20 will test key resistances at $17.37, $17.48 and $17.78 marks respectively.
- On the other side, a daily close below $16.87 will take the parity down towards key supports at $16.70, $16.57, $16.07, $15.90, $15.70, $15.47 and $15.40 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 $16.95, top loss at $17.20 and target of $16.57.
