FxWirePro: Silver remains well supported below $16.87 mark, good to sell on ralies

• XAG/USD is currently trading around $16.57 marks.
   
• It made intraday high at $16.67 and low at $16.54 levels.
   
• Intraday bias remains bearish till the time pair holds immediate resistance at $16.87 marks. 
   
• A daily close above $16.87 will test key resistances at $16.99/$17.08/$17.22/$17.45/$17.82/$18.25/$18.48/$18.99/$19.29/$19.52 marks respectively.
   
• On the other side, a daily close below $16.57 will take the parity down towards key supports at $16.27/$16.11/$15.88/$15.76/$15.32/$15.01 marks respectively.

We prefer to take short position in XAG/USD around $16.60, stop loss at $16.87 and target of $16.27/$16.11.