- XAG/USD is currently trading around $16.28 marks.
- It made intraday high at $16.36 and low at $16.20 levels.
- Intraday bias remains bearish till the time pair holds immediate resistance at $16.62 marks.
- A daily close above $16.62 will test key resistances at $16.87/$16.99/$17.08/$17.22/$17.45/$17.82/$18.25/$18.48/$18.99/$19.29/$19.52 marks respectively.
- A daily close below $16.32 will take the parity down towards key supports at $15.88/$15.76/$15.32/$15.01 marks respectively.
Positioning is inconclusive at this point, with prices offering no clear cut signal to initiate a long or short trade. We will continue to remain on sidelines for the time being.
