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- XAG/USD is currently trading around $17.08 marks.
- It made intraday high at $17.12 and low at $16.91 levels.
- Intraday bias remains bullish till the time pair holds key support at $16.90 mark.
- A daily close above $17.01 will test key resistances at $17.12, $17.23, $17.33 and $17.54 marks respectively.
- On the other side, a daily close below $17.01 will take the parity down towards key supports at $16.90, $16.72, $16.58, $16.42, $16.34, $16.27, $16.16, $16.02 and $15.84 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 $17.08, stop loss $17.14 and target of $16.90/$16.72.
