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Silver Price Analysis: XAG/USD sideways, holding above $14.00/oz

  • XAG/USD is reversing up from 2020 lows as the Federal Reserve launched its largest stimulus package in history last week.
  • The level to beat for bulls is the 15.00 resistance.
 

Silver daily chart

 
After the dramatic selloff to 2009 lows, XAG/USD bounced as the Fed announced unlimited Quantitative Easing (QE) to counter the coronavirus crisis.  
  

Silver four-hour chart 

 
XAG/USD is consolidating the advance just above the 14.00 support level and the 50 SMA on the four-hour chart. Bulls want a continuation up above the 15.00 handle en route to the 15.50 and 16.60 level on the way up while support can be expected 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 14.15
Today Daily Change -0.32
Today Daily Change % -2.21
Today daily open 14.47
 
Trends
Daily SMA20 15.02
Daily SMA50 16.72
Daily SMA100 17.03
Daily SMA200 17.06
 
Levels
Previous Daily High 14.63
Previous Daily Low 14.18
Previous Weekly High 14.73
Previous Weekly Low 12.38
Previous Monthly High 18.95
Previous Monthly Low 16.4
Daily Fibonacci 38.2% 14.46
Daily Fibonacci 61.8% 14.35
Daily Pivot Point S1 14.23
Daily Pivot Point S2 13.98
Daily Pivot Point S3 13.78
Daily Pivot Point R1 14.67
Daily Pivot Point R2 14.87
Daily Pivot Point R3 15.12

 

 

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