FxWirePro: Silver fails to break key resistance at $16.19, intraday bias remains neutral

• XAG/USD is currently trading around $16.15 marks.
   
• It made intraday high at $16.18 and low at $16.07 levels.
   
• Intraday bias remains slightly bearish till the time pair holds immediate resistance level at $16.19 marks.
   
• A sustained break above will take the parity up towards $16.34/$17.75 levels.
   
• Alternatively, a daily close below $15.98 will drag the parity back around $15.85/$15.77/$15.68 levels respectively.
   
• Initial support levels are seen at $16.07, $16.02 and $15.98 marks.
   
• Resistance levels are seen at $16.19, $16.34 and $17.75 thereafter.

We prefer to take long position in XAG/USD only above $16.19, stop loss $16.07 and target $16.34 marks.