Silver breaks all the key resistances and hits fresh 4-month high, remains supported above $16.02

• XAG/USD is currently trading around $16.03 levels.
   
• It made intraday high at $16.12 and low at $15.87 levels.
   
• Intraday bias remains bullish for the moment.
   
• Silver breaks key resistance level at $15.72 marks and touched 4- month high.
   
• A sustained close above key resistance will take the parity towards new high at $16.12, $16.20 and $16.52 marks thereafter.
   
• In addition, 20D, 30D and 55D EMA heads up, which signals bullish trend.
   
• Alternatively, a daily close below $15.72 will turn the bias slightly bearish and tests $15.56 marks.

We prefer to take long position in XAG/USD at $16.00, stop loss $15.97 and targets $16.20.