- XAG/USD is currently trading around $17.12 marks.
- It made intraday high at $17.19 and low at $17.06 levels.
- Intraday bias remains bullish till the time pair holds key support at $16.99 mark.
- A daily close above $17.12 will test key resistances at $17.26/$17.35/$17.48 marks respectively.
- On the other side, a daily close below $17.12 will take the parity down towards key supports at $16.99/$16.85/$16.70/$16.57/$16.37/$16.20/$16.05 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Current upside movement is short term trend correction only.
We prefer to go long on XAG/USD around $17.12 with stop loss at $16.99 and target of $17.26/$17.35.
