Silver faces key resistance at $15.77, a break will targets $16.34/$17.75 marks

• XAG/USD is currently trading around $15.60 marks.
   
• It made intraday high at $15.71 and low at $15.46 levels.
   
• Intraday bias remains slightly bullish till the time pair holds immediate support level at $15.46 marks.
   
• On the top side, key resistance is seen at $15.77. A sustained break will take the parity towards $16.34/$17.75 levels.
   
• Alternatively, rebound from $15.77 will drag the parity back below $15.00 level.
   
• Initial support levels are seen at $15.54, $15.44 and $15.32 marks.
   
• Resistance levels are seen at $15.77, $16.34 and $17.75 thereafter.

Positioning is inconclusive at this point, with prices offering no clear cut signal to initiate a long or short trade. We will continue to remain on sidelines for the time being.