FxWirePro: XAG/USD hovers around $17.00 mark, consistent close above $17.02 requires for upside rally

• XAG/USD is currently trading around $16.99 marks.
   
• It made intraday high at $17.01 and low at $16.95 levels.
   
• Intraday bias remains neutral till the time pair holds immediate resistance at $17.02 mark.
   
• A daily close above $16.97 will test key resistances at $17.02, $17.08, $17.13, $17.22, $17.40 and $17.52 marks respectively.
   
• On the other side, a daily close below $16.97 will take the parity down towards key supports at $16.87, $16.70, $16.55, $16.48, $16.36, $16.28, $16.15 and $16.02 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 $17.02, stop loss $16.85 and target of $17.13/$17.22 mark.

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