FxWirePro: Silver enjoys roller coaster movement, sustained close above $17.53 requires for upside rally

• XAG/USD is currently trading around $17.42 marks.
   
• It made intraday high at $17.46 and low at $17.22 levels.
   
• Intraday bias remains bullish till the time pair holds key support at $17.12 mark.
   
• A daily close above $17.53 will test key resistances at $17.67, $17.76, $17.90 and $18.19 marks respectively.
   
• On the other side, a daily close below $17.28 will take the parity down towards key supports at $17.12, $17.08, $16.92 and $16.70 marks respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.

We prefer to take short position in XAG/USD around $17.44, stop loss $16.55 and target of $17.12 mark.

FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest