- XAG/USD is currently trading around $15.90 marks.
- It made intraday high at $15.96 and low at $15.85 levels.
- Intraday bias remains bullish till the time pair holds key support at $15.72 mark.
- A daily close above $15.89 will test key resistances at $16.02/$16.22/$16.32/$16.40/$16.58/$16.72/$16.88/$17.00/$17.08/$17.22/$17.49/$17.68 marks respectively.
- On the other side, a daily close below $15.89 will take the parity down towards key supports at $15.72/$15.58/$15.42/$15.24/$15.16/$15.04/$14.90/$14.82/$14.74 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 $15.85 with stop loss at $15.72 and target of $16.02/$16.22.
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