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- XAG/USD is currently trading around $16.71 marks.
- It made intraday high at $16.72 and low at $16.63 levels.
- Intraday bias remains bullish till the time pair holds key support at $16.48 mark.
- A daily close above $16.67 will test key resistances at $16.82, $16.96, $17.08, $17.22, $17.40 and $17.52 marks respectively.
- On the other side, a daily close below $16.67 will take the parity down towards key supports at $16.42, $16.22, $16.08, $15.90 and $15.68 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
We prefer to take long position in XAG/USD around $16.70, stop loss $16.62 and target of $16.96/$17.08.
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