Silver New York Price Forecast: XAG/USD holding onto gains above $15.00/oz

XAG/USD bounced up sharply from the 2020 lows as the Federal Reserve introduced its largest stimulus package in history.
The level to beat for buyers is the 15.50 resistance.

Flavio Tosti Independent Analyst

Silver daily chart

Following the sharp selloff to 2009 lows, XAG/USD bounced up as the Fed introduced a limitless Quantitative Easing (QE) in response to the coronavirus crisis.

Silver four-hour chart

Silver is about to challenge the 15.50 resistance and the 200 SMA on the four-hour chart as bulls remain in control while a break above this level should inroduce scope for further advances towards the 16.20 and 16.60 levels on the way up. On the flip side, XAG/USD could find support near the 15.00, 14.50 and 14.00 price levels.

Resistance: 15.50, 16.20, 16.60

Support: 15.00, 14.50, 14.00

Additional key levels

XAG/USD

Overview
Today last price	15.26
Today Daily Change	0.26
Today Daily Change %	1.73
Today daily open	15

Trends
Daily SMA20	14.17
Daily SMA50	16.28
Daily SMA100	16.88
Daily SMA200	17.03

Levels
Previous Daily High	15.09
Previous Daily Low	14.25
Previous Weekly High	14.56
Previous Weekly Low	13.82
Previous Monthly High	17.58
Previous Monthly Low	11.64
Daily Fibonacci 38.2%	14.77
Daily Fibonacci 61.8%	14.57
Daily Pivot Point S1	14.46
Daily Pivot Point S2	13.93
Daily Pivot Point S3	13.62
Daily Pivot Point R1	15.31
Daily Pivot Point R2	15.62
Daily Pivot Point R3	16.15

Author

Flavio Tosti

Independent Analyst

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