FxWirePro: Silver fails to find support above $15.40 mark, U.S. CPI data in focus

• XAG/USD is currently trading around $15.31 marks.
   
• It made intraday high at $15.42 and low at $15.29 levels.
   
• Intraday bias remains bearish till the time pair holds key resistance at $15.52 mark.
   
• A daily close above $15.42 will test key resistances at $15.47, $15.52, $15.65, $15.85, $15.96, $16.08, $16.20, $16.40 and $16.55 marks respectively.
   
• On the other side, a daily close below $15.28 will take the parity down towards key supports at $15.22, $15.15, $15.02 and $14.87 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 short position on XAG/USD around $15.35, stop loss $15.45 and target of $15.22/$15.02.