FxWirePro: Silver faces strong support at $16.88, a sustain break below targets $15.62

• XAG/USD is currently trading around $15.98 marks.
   
• It made intraday high at $16.05 and low at $15.94 levels.
   
• Intraday bias remains bullish till the time pair holds key support at $15.88 marks. 
   
• A daily close below $15.88 will take the parity down towards key support at $15.62(20D EMA) marks.
   
• Alternatively, reversal from key support $15.88 will take the parity higher towards key resistances at $16.04, $16.11, $16.25 and $16.45 marks respectively.
   
• Important to note here that in a daily chart, 20D, 30D and 55D EMA heads up and confirms bullish trend.

We prefer to take long position in XAG/USD only above $16.04, stop loss $15.88 and target $16.32 marks.