- XAG/USD is currently trading around $16.70 marks.
- It made intraday high at $16.79 and low at $16.40 levels.
- Intraday bias remains bullish for the moment.
- A daily close above $16.57 will test key resistances at $16.80, $16.97 and $17.12 marks respectively.
- On the other side, a daily close below $16.22 will take the parity down towards key supports at $16.07, $15.90, $15.70, $15.47 and $15.40 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 long position on XAG/USD around $16.65, top loss at $16.40 and target of $16.97.
