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- XAG/USD is currently trading around $16.09 marks.
- It made intraday high at $16.11 and low at $15.86 levels.
- Intraday bias remains bullish till the time pair holds key support at $15.86 levels.
- A daily close above $16.08 will test key resistances at $16.19/$16.25/$16.32/$16.46/$16.62/$16.76 marks respectively.
- On the other side, a daily close below $16.08 will take the parity down towards key supports at $15.95/$15.86/$15.74/$15.66/$15.54/$15.32/$15.01 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 short on XAG/USD around $16.10 with stop loss at $16.28 and target of $15.86/$15.74.
