FxWirePro: Silver refrains from falling below $16.15, stay bullish

• XAG/USD is currently trading around $16.41 marks.
   
• It made intraday high at $16.46 and low at $16.21 levels.
   
• Intraday bias remains bullish till the time pair holds key support at $16.15 marks. 
   
• A daily close below $16.15 will take the parity down towards key support at $16.11 and $15.72 marks respectively.
   
• Alternatively, current upside movement will take the parity higher towards key resistances at $16.45, $16.63, $16.88 (20D, 30D and 55D EMA cross over), $16.95, $17.11, $17.46 (May 09, 2016 high) and $17.55 (May 11, 2016 high) levels respectively.
   
• Important to note here that in a daily chart, 20D, 30D and 55D EMA heads up and confirms bullish trend. Current downside movement is short term trend correction only.

We prefer to take long position in XAG/USD around $16.37, stop loss $16.22 and target $16.63 marks.