FxWirePro: XAG/USD hovers around $17.00 mark, bias remains neutral
XAG/USD is currently trading around $16.99 marks. It made intraday high at $17.02 and low at $16.91 levels. Intraday bias remains neutral till the time pair holds key support at $16.90 mark. A daily close above $16.92 wi…
It made intraday high at $17.02 and low at $16.91 levels.
Intraday bias remains neutral till the time pair holds key support at $16.90 mark.
A daily close above $16.92 will test key resistances at $17.02, $17.22, $17.37, $17.44, $17.49, $17.60, $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 $16.92 will take the parity down towards key supports at $16.72, $16.58, $16.40, $16.21 and $16.10 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 short position in XAG/USD around $17.00, stop loss $17.11 and target of $16.72.
