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- XAG/USD is currently trading around $18.18 marks.
- It made intraday high at $18.31 and low at $18.18 levels.
- Intraday bias remains bearish till the time pair holds key resistance at $18.26 mark.
- A daily close above $18.26 will test key resistances at $18.42/$18.54/$18.63/$18.72 marks respectively.
- On the other side, a daily close below $18.26 will take the parity down towards key supports at $18.06/$17.89/$17.72/$17.51/$17.42/$17.22/$17.09/$16.87 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 short on XAG/USD around $18.20 with stop loss at $18.32 and target of $18.06/$17.89.
