FxWirePro: Silver falls noticeably against U.S. dollar, stay bearish

• XAG/USD is currently trading around $16.40 marks.
   
• It made intraday high at $16.46 and low at $16.38 levels.
   
• Intraday bias remains bearish till the time pair holds key resistance at $16.62 mark.
   
• A daily close above $16.43 will test key resistances at $16.62, $16.80, $16.96, $17.08, $17.22, $17.40 and $17.52 marks respectively.
   
• On the other side, a daily close below $16.43 will take the parity down towards key supports at $16.38, $16.22, $15.90 and $15.68 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 in XAG/USD around $16.42, stop loss $16.65 and target of $16.22/$15.90.

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