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- XAG/USD is currently trading around $17.41 marks.
- It made intraday high at $17.42 and low at $17.35 levels.
- Intraday bias remains bullish till the time pair holds key support at $17.22 mark.
- A daily close above $17.38 will test key resistances at $17.48/$17.63/$17.72/$17.98 marks respectively.
- On the other side, a daily close below $17.38 will take the parity down towards key supports at $17.22/$17.06/$16.88/$16.72/$16.40/$16.28/$16.14 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 go long on XAG/USD around $17.38 with stop loss at $17.22 and target of $17.63.
