Silver New York Price Forecast: XAG/USD recovery remains intact, trades near $15.50/oz

XAG/USD is still trading near one-month highs.
The level to beat for buyers is the 16.20 resistance.

Flavio Tosti Independent Analyst

Silver daily chart

Following the sharp selloff to 2009 lows, XAG/USD is rebounding up as the Fed launched a limitless Quantitative Easing (QE). However, silver is still trading below its main SMAs on the daily chart.

Silver four-hour chart

XAG/USD is holding above 15.50 level while trading above the mains SMAs on the four-hour chart as the bullish recovery remains intact. The next levels to watch on the way up can be the 16.20 and 16.60 levels. Support should emerge near the 15.00, 14.50 and 14.00 levels on any pullback.

Resistance: 15.50, 16.20, 16.60

Support: 15.00, 14.50, 14.00

Additional key levels

XAG/USD

Overview
Today last price	15.52
Today Daily Change	-0.24
Today Daily Change %	-1.52
Today daily open	15.76

Trends
Daily SMA20	14.14
Daily SMA50	16.04
Daily SMA100	16.79
Daily SMA200	17.04

Levels
Previous Daily High	15.85
Previous Daily Low	15.34
Previous Weekly High	15.56
Previous Weekly Low	14.25
Previous Monthly High	17.58
Previous Monthly Low	11.64
Daily Fibonacci 38.2%	15.65
Daily Fibonacci 61.8%	15.54
Daily Pivot Point S1	15.45
Daily Pivot Point S2	15.15
Daily Pivot Point S3	14.95
Daily Pivot Point R1	15.96
Daily Pivot Point R2	16.15
Daily Pivot Point R3	16.46

Author

Flavio Tosti

Independent Analyst

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