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- XAG/USD is currently trading around $18.07 marks.
- It made intraday high at $18.13 and low at $18.02 levels.
- Intraday bias remains bullish till the time pair holds key support at $17.98 mark.
- A daily close above $18.09 will test key resistances at $18.27/$18.48/$18.72/$18.88 marks respectively.
- On the other side, a daily close below $18.09 will take the parity down towards key supports at $17.98/$17.72/$17.51/$17.42/$17.22/$17.09/$16.87/$16.65/$16.48/$16.36/$16.23/$15.85 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. Current downside movement is short term trend correction only.
We prefer to go long on XAG/USD only above $18.12 with stop loss at $17.98 and target of $18.27/$18.48.
