XAG/USD is currently trading around $17.15 marks. It made intraday high at $17.21 and low at $17.11 levels. Intraday bias remains slightly bearish till the time pair holds key resistance at $17.22 mark. A daily close abo…
It made intraday high at $17.21 and low at $17.11 levels.
Intraday bias remains slightly bearish till the time pair holds key resistance at $17.22 mark.
A daily close above $17.22 will test key resistances at $17.40, $17.52, $16.67, $17.82, $17.95, $18.12, $18.24, $18.39, $18.52 and $18.63 marks respectively.
On the other side, a daily close below $17.22 will take the parity down towards key supports at $17.01/$16.90/$16.76/$16.57 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 in XAG/USD around $17.16, stop loss $17.28 and target of $17.01/$16.90.
