FxWirePro: Silver rises noticeably against U.S. dollar, bias remains bullish

• XAG/USD is currently trading around $16.72 marks.
   
• It made intraday high at $16.74 and low at $16.41 levels.
   
• Intraday bias remains bullish till the time pair holds key support at $16.48 mark.
   
• A daily close above $16.51 will test key resistances at $16.80, $16.96, $17.08, $17.22, $17.40 and $17.52 marks respectively.
   
• On the other side, a daily close below $16.51 will take the parity down towards key supports at $16.37, $16.22, $16.10, $15.90 and $15.68 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 long position in XAG/USD only above $16.75, stop loss $16.50 and target of $17.22.

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