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.

Flavio Tosti Independent Analyst

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

Author

Flavio Tosti

Independent Analyst

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