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Silver New York Price Forecast: XAG/USD bounce from 2020 lows halted near $14.00/oz

  • XAG/USD is bouncing up from 2020 lows as the Federal Reserve launched its largest stimulus package ever, last week.
  • The level to beat for buyers is the 15.00 resistance.
 

Silver daily chart

 
Following the sharp selloff to 2009 lows, silver bounced as the Fed announced unlimited Quantitative Easing (QE) to fight the coronavirus crisis.  
  

Silver four-hour chart 

 
XAG/USD is consolidating the bounce of the last few days, trading just above the 14.00 support level and the 50 SMA on the four-hour chart. Buyers want an extension up above the 15.00 figure en route to the 15.50 and 16.60 level on the way up while support can emerge near the 14.00 level.
 
 
Resistance: 15.00, 15.50, 16.60
Support: 14.00, 13.50, 13.00
 
 

Additional key levels

XAG/USD

Overview
Today last price 14.02
Today Daily Change -0.03
Today Daily Change % -0.21
Today daily open 14.05
 
Trends
Daily SMA20 14.89
Daily SMA50 16.64
Daily SMA100 17.01
Daily SMA200 17.06
 
Levels
Previous Daily High 14.56
Previous Daily Low 13.83
Previous Weekly High 14.73
Previous Weekly Low 12.38
Previous Monthly High 18.95
Previous Monthly Low 16.4
Daily Fibonacci 38.2% 14.11
Daily Fibonacci 61.8% 14.28
Daily Pivot Point S1 13.74
Daily Pivot Point S2 13.42
Daily Pivot Point S3 13.01
Daily Pivot Point R1 14.46
Daily Pivot Point R2 14.87
Daily Pivot Point R3 15.19

 

 

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