Silver New York Price Forecast: XAG/USD confined in extremely tight ranges near $14.00/oz

XAG/USD bounced from 2020 lows as the Federal Reserve announces its largest stimulus package in history, last week.
XAG/USD is consolidating the advance in a very tight trading range.
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 bounced as the Fed announced no limit to its Quantitative Easing (QE) to counter the coronavirus crisis.

Silver four-hour chart

XAG/USD is consolidating the bull-run of the last trading sessions while trading close to the 14.00 support level and the 50/100 SMA on the four-hour chart as bulls need an extension up above the 15.00 figure en route to the 15.50 and 16.60 level while support can be found near the 14.00, 13.50 and 13.00 level.

Resistance: 15.00, 15.50, 16.60

Support: 14.00, 13.50, 13.00

Additional key levels

XAG/USD

Overview
Today last price	13.97
Today Daily Change	-0.02
Today Daily Change %	-0.14
Today daily open	13.99

Trends
Daily SMA20	14.73
Daily SMA50	16.56
Daily SMA100	16.98
Daily SMA200	17.05

Levels
Previous Daily High	14.25
Previous Daily Low	13.86
Previous Weekly High	14.73
Previous Weekly Low	12.38
Previous Monthly High	17.58
Previous Monthly Low	11.64
Daily Fibonacci 38.2%	14.01
Daily Fibonacci 61.8%	14.1
Daily Pivot Point S1	13.82
Daily Pivot Point S2	13.65
Daily Pivot Point S3	13.43
Daily Pivot Point R1	14.21
Daily Pivot Point R2	14.42
Daily Pivot Point R3	14.59

Author

Flavio Tosti

Independent Analyst

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