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- XAG/USD is currently trading around $16.65 marks.
- It made intraday high at $16.69 and low at $16.60 levels.
- Intraday bias remains bearish till the time pair holds key resistance at $16.80 mark
. - A daily close above $16.60 will test key resistances at $16.80/$16.95/$17.22/$17.36/$17.76 marks respectively.
- On the other side, a daily close below $16.60 will take the parity down towards key supports at $16.55/$16.42/$16.28/$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 go short on XAG/USD around $16.68 with stop loss at $16.80 and target of $16.28.
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