FxWirePro: Silver rises gradually against U.S. dollar, upside limited

• XAG/USD is currently trading around $17.76 marks.
   
• It made intraday high at $17.77 and low at $17.53 levels.
   
• Intraday bias remains slightly bullish till the time pair holds key support at $17.53 mark.
   
• A daily close above $16.55 will test key resistances at $16.82, $16.95, $17.08, $17.22, $17.40 and $17.52 marks respectively.
   
• On the other side, a daily close below $16.55 will take the parity down towards key supports at $16.32, $16.15 and $15.90 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 short position in XAG/USD around $16.80, stop loss $16.95 and target of $16.55/$16.32 mark.

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