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FxWirePro: Silver back around $17.30, intraday bias remains slightly bearish

Thursday, May 12, 2016 7:12 AM UTC

XAG/USD is currently trading around $17.29 marks.
It made intraday high at $17.43 and low at $17.27 levels.
Intraday bias remains bearish for the moment.
Alternatively, a daily close below $17.06 will drag the parity down around $16.97/$16.88/$16.85 levels respectively.
On the top side, key resistance is seen at $17.32. A sustained close above will take the parity up towards $17.37/ $17.44/ $17.55/$17.67 levels respectively.

We prefer to take short position in XAG/USD around $17.30, stop loss $17.37 and target $17.11/ $16.88 marks.

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FxWirePro: Silver back around $17.30, intraday bias remains slightly bearish

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