XAG/USD is currently trading around $16.46 marks. It made intraday high at $16.54 and low at $16.44 levels. Intraday bias remains slightly bearish till the time pair holds key resistance at $16.52 mark. A daily close abo…
It made intraday high at $16.54 and low at $16.44 levels.
Intraday bias remains slightly bearish till the time pair holds key resistance at $16.52 mark.
A daily close above $16.52 will test key resistances at $16.67, $16.75, $16.82, $16.96, $17.08, $17.22, $17.40 and $17.52 marks respectively.
On the other side, a daily close below $16.52 will take the parity down towards key supports at $16.40, $16.32, $16.18, $16.08, $15.90 and $15.68 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 long position in XAG/USD around $16.40, stop loss $16.28 and target of $16.75.
