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- XAG/USD is currently trading around $15.82 marks.
- It made intraday high at $15.90 and low at $15.79 levels.
- Intraday bias remains bearish for the moment.
- A daily close above $15.89 will test key resistances at $15.96, $16.07 and $16.15 marks respectively.
- On the other side, a daily close below $15.89 will take the parity down towards key supports at $15.72, $15.57, $15.48, $15.30 and $15.22 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 take short position on XAG/USD only below $15.78, stop loss $15.90 and target of $15.70/$15.57.
