FxWirePro: XAG/USD moves in stiff boundaries, stay bullish only above $16.12 mark

• XAG/USD is currently trading around $16.04 marks.
   
• It made intraday high at $16.10 and low at $15.94 levels.
   
• Intraday bias remains neutral till the time pair holds key resistance at $16.12 mark.
   
• A daily close above $15.98 will test key resistances at $16.12, $16.27, $16.40, $16.55, $16.65, $16.90, $17.12, $17.23, $17.33 and $17.54 marks respectively.
   
• On the other side, a daily close below $15.98 will take the parity down towards key supports at $15.90, $15.84, $15.68, $15.47 and $15.32 marks respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.

We prefer to take long position on XAG/USD only above $16.12, stop loss $15.90 and target of $16.27$16.48.