FxWirePro: Silver stabilizes above $15.40 mark, stay bearish only below $15.42

• XAG/USD is currently trading around $15.47 marks.
   
• It made intraday high at $15.52 and low at $15.41 levels.
   
• Intraday bias remains neutral till the time pair moves in stiff boundaries from $15.40 to $15.52 mark.
   
• A daily close above $15.44 will test key resistances at $15.53, $15.65, $15.89, $15.96, $16.08, $16.20, $16.40 and $16.55 marks respectively.
   
• On the other side, a daily close below $15.44 will take the parity down towards key supports at $15.30, $15.15, $15.02 and $14.87 marks respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Current upside movement is short term trend correction only.

We prefer to take short position on XAG/USD only below $15.42, stop loss $15.60 and target of $15.15/$15.02.