FxWirePro: Silver slips below $17.00 mark, stay bearish

• XAG/USD is currently trading around $16.95 marks.
   
• It made intraday high at $17.10 and low at $16.94 levels.
   
• Intraday bias remains bearish till the time pair holds key resistance at $17.10 mark.
   
• A daily close above $17.10 will test key resistances at $17.23, $17.33, $17.40, $17.52 and $17.68 marks respectively.
   
• On the other side, a daily close below $17.10 will take the parity down towards key supports at $16.82, $16.57, $16.40, $16.28 and $16.16 marks respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. Current downside movement is short term trend correction only.
   

We prefer to take short position in XAG/USD around $16.97, stop loss $17.11 and target of $16.82/$16.76.

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