Silver New York Price Analysis: XAG/USD trading in 7-day’s highs, nearing $15.00/oz

XAG/USD is bouncing up from 2020 lows as the Federal Reserve launched the largest stimulus package in history this Monday.
The level to beat for bulls is the 15.00 resistance.

Flavio Tosti Independent Analyst

Silver daily chart

After the sharp selloff to 2009 lows, XAG/USD is reversing up as the Fed announced unlimited Quantitative Easing (QE) to counter the coronavirus crisis, this Monday.

Silver four-hour chart

XAG/USD is challenging the weekly highs as the bulls are nearing the 100 SMA on the four-hour chart. The correction up is set to extend higher especially on a break beyond the 15.00 resistance level which could introduce scope to the 15.50 and 16.60 levels in the medium term.

Resistance: 15.00, 15.50, 16.60

Support: 14.00, 13.50, 13.00

Additional key levels

XAG/USD

Overview
Today last price	14.64
Today Daily Change	0.17
Today Daily Change %	1.17
Today daily open	14.47

Trends
Daily SMA20	15.29
Daily SMA50	16.86
Daily SMA100	17.08
Daily SMA200	17.07

Levels
Previous Daily High	14.73
Previous Daily Low	14.01
Previous Weekly High	15.29
Previous Weekly Low	11.64
Previous Monthly High	18.95
Previous Monthly Low	16.4
Daily Fibonacci 38.2%	14.45
Daily Fibonacci 61.8%	14.28
Daily Pivot Point S1	14.07
Daily Pivot Point S2	13.68
Daily Pivot Point S3	13.35
Daily Pivot Point R1	14.79
Daily Pivot Point R2	15.12
Daily Pivot Point R3	15.51

Author

Flavio Tosti

Independent Analyst

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