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- XAG/USD is currently trading around $17.10 marks.
- It made intraday high at $17.18 and low at $17.04 levels.
- Intraday bias remains neutral till the time pair holds key resistance at $17.17 marks.
- A daily close above $17.17 will test key resistances at $17.26, $17.48 and $17.72 marks respectively.
- On the other side, a daily close below $17.17 will take the parity down towards key supports at $17.02/$16.85/$16.57/$16.37/$16.20/$16.05/$15.95 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 $17.08 with stop loss at $17.02 and target of $17.19/$17.26/$17.48.
