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- XAG/USD is currently trading around $17.25 marks.
- It made intraday high at $17.86 and low at $17.05 levels.
- Intraday bias remains bearish for the moment.
- A daily close above $17.40 will test key resistances at $17.67, $17.92, $18.22, $18.47, $18.87, $18.98, $19.08 and $19.24 marks respectively.
- On the other side, a daily close below $17.06 will take the parity down towards key supports at $16.80, $16.57, $16.20 and $16.02 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
We prefer to take short position on XAG/USD around $17.30, stop loss at $18.57 and target of $16.80.
