FxWirePro: Silver hits fresh 2 – week low at $17.48 mark, sustained close below requires for downside rally

• XAG/USD is currently trading around $17.54 marks.
   
• It made intraday high at $17.62 and low at $17.48 levels.
   
• Intraday bias remains neutral till the time pair holds key support at $17.48 mark.
   
• A daily close above $17.55 will test key resistances at $17.87, $18.02, $18.22, $18.27, $18.45, $18.76, $19.07 and $19.27 marks respectively.
   
• On the other side, a daily close below $17.55 will take the parity down towards key supports at $17.40, $17.17, $16.97, $16.72, $16.40 and $16.17 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 on XAG/USD only below $17.48, stop loss at $17.70 and target of $17.40/$17.17.