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- XAG/USD is currently trading around $15.75 marks.
- It made intraday high at $15.79 and low at $15.68 levels.
- Intraday bias remains bearish till the time pair holds key resistance at $15.98 mark.
- A daily close above $15.70 will test key resistances at $15.87, $15.98, $16.12, $16.22, $16.32, $16.40, $16.49, $16.57, $16.68, $16.90, $17.08 and $17.17 marks respectively.
- On the other side, a daily close below $15.70 will take the parity down towards key supports at $15.62, $15.44, $15.28 and $15.18 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 long position in XAG/USD only above $15.80, stop loss $15.68 and target of $15.98/$16.12 mark.
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