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- XAG/USD is currently trading around $15.49 marks.
- It made intraday high at $15.53 and low at $15.23 levels.
- Intraday bias remains neutral till the time pair holds key resistance at $15.52 mark.
- A daily close above $15.49 will test key resistances at $15.55, $15.65, $15.89, $15.96, $16.08, $16.20, $16.40 and $16.55 marks respectively.
- On the other side, a daily close below $15.49 will take the parity down towards key supports at $15.32, $15.15, $15.02 and $14.87 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Current upside movement is short term trend correction only.
We prefer to take short position on XAG/USD around $15.52, stop loss $15.62 and target of $15.32.
