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.

 

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

 

 

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