Silver New York Price Forecast: XAG/USD pressuring 9-day’s highs, trades near $14.50/oz

XAG/USD rebounded up sharply from the 2020 lows as the Federal Reserve announced the largest stimulus package in history.
The level to beat for buyers is the 15.00 resistance.

Flavio Tosti Independent Analyst

Silver daily chart

After a sharp selloff to 2009 lows, XAG/USD rebounded as the Fed announced no limit to its Quantitative Easing (QE) in response to the coronavirus crisis.

Silver four-hour chart

Silver found support above the 14.00 level and the 50/100 SMAs on the four-hour chart as bulls want an extension up beyond the 15.00 figure en route to the 15.50 and 16.60 level while support could emerge near the 14.00, 13.50 and 13.00 levels.

Resistance: 15.00, 15.50, 16.60

Support: 14.00, 13.50, 13.00

Additional key levels

XAG/USD

Overview
Today last price	14.55
Today Daily Change	0.13
Today Daily Change %	0.90
Today daily open	14.42

Trends
Daily SMA20	14.27
Daily SMA50	16.34
Daily SMA100	16.9
Daily SMA200	17.04

Levels
Previous Daily High	14.55
Previous Daily Low	14.28
Previous Weekly High	14.56
Previous Weekly Low	13.82
Previous Monthly High	17.58
Previous Monthly Low	11.64
Daily Fibonacci 38.2%	14.38
Daily Fibonacci 61.8%	14.44
Daily Pivot Point S1	14.28
Daily Pivot Point S2	14.14
Daily Pivot Point S3	14.01
Daily Pivot Point R1	14.55
Daily Pivot Point R2	14.68
Daily Pivot Point R3	14.82

Author

Flavio Tosti

Independent Analyst

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