FxWirePro: Silver jumps above $16.70 mark, upside limited

• XAG/USD is currently trading around $16.70 marks.
   
• It made intraday high at $16.72 and low at $16.49 levels.
   
• Intraday bias remains bearish till the time pair holds immediate resistance at $17.08 marks. 
   
• A daily close above $17.08 will test key resistances at $17.22/$17.45/$17.82/$18.25/$18.48/$18.99/$19.29/$19.52/$19.72 marks respectively.
   
• A daily close below $16.42 will take the parity down towards key supports at $16.33/$16.22/$15.93 marks respectively.

We prefer to go short on XAG/USD around $16.70 with stop loss at $17.08 and target of $16.42/$16.33/$16.22.