FxWirePro: Silver remains well supported above $16.14, good to buy on dips

• XAG/USD is currently trading around $15.20 marks.
   
• It made intraday high at $16.26 and low at $16.14 levels.
   
• Intraday bias remains slightly bullish till the time pair holds immediate support level at $16.14 marks.
   
• On the top side, key resistance is seen at $16.29. A sustained break above will take the parity up towards $16.35/$16.54 levels.
   
• Alternatively, a daily close below $16.14 will drag the parity down around $15.97/$15.85/$15.76 levels respectively.
   
• Initial support levels are seen at $15.98, $15.76 and $15.73 marks.
   
• Resistance levels are seen at $16.29, $16.34 and $17.75 thereafter.

We prefer to take long position in XAG/USD only above $16.24, stop loss $16.14 and target $16.54 marks.