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- XAG/USD is currently trading around $17.04 marks.
- It made intraday high at $17.10 and low at $17.01 levels.
- Intraday bias remains neutral till the time pair moves in stiff boundaries from $17.10 to $16.90 mark.
- A daily close above $17.04 will test key resistances at $17.10, $17.18, $17.32, $17.40, $17.68, $17.87 and $18.02 marks respectively.
- On the other side, a daily close below $16.90 will take the parity down towards key supports at $16.74, $16.57, $16.40, $16.17 and $16.02 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 on XAG/USD only above $17.10, stop loss at $16.87 and target of $17.18/$17.32.
