- XAG/USD is currently trading around $16.77 marks.
- It made intraday high at $16.99 and low at $16.71 levels.
- Intraday bias remains neutral for the moment.
- A daily close above $16.73 will test key resistances at $17.06, $17.22, $17.48, $17.67, $17.92 and $18.22 marks respectively.
- On the other side, a daily close below $16.67 will take the parity down towards key supports at $16.38, $16.20, $16.02 and $15.87 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 short position on XAG/USD only below $16.70, stop loss at $17.02 and target of $16.38.
