FxWirePro: Silver hovers around $17.00 mark, stay bullish only above $17.12

• XAG/USD is currently trading around $17.05 marks.
   
• It made intraday high at $17.10 and low at $16.93 levels.
   
• Intraday bias remains neutral till the time pair holds key support at $16.92 mark.
   
• A daily close above $17.09 will test key resistances at $17.22, $17.40, $17.68, $17.87 and $18.02 marks respectively.
   
• On the other side, a daily close below $17.09 will take the parity down towards key supports at $16.92, $16.74, $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 long position on XAG/USD around $17.00, stop loss at $16.92 and target of $17.22.