Silver Price Analysis: XAG/USD remains bullish, trading near $14.50/oz

XAG/USD bounced up sharply from the 2020 lows as the Federal Reserve announced its largest stimulus package in history.
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 respond to the coronavirus crisis.

Silver four-hour chart

Silver appears to have found solid support above the 14.00 level and the 50/100 SMAs on the four-hour chart as buyers want an extension up above the 15.00 figure en route to the 15.50 and 16.60 level while support could be seen 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	14.4
Today Daily Change	-0.07
Today Daily Change %	-0.48
Today daily open	14.47

Trends
Daily SMA20	14.41
Daily SMA50	16.42
Daily SMA100	16.92
Daily SMA200	17.04

Levels
Previous Daily High	14.55
Previous Daily Low	13.9
Previous Weekly High	14.73
Previous Weekly Low	12.38
Previous Monthly High	17.58
Previous Monthly Low	11.64
Daily Fibonacci 38.2%	14.31
Daily Fibonacci 61.8%	14.15
Daily Pivot Point S1	14.06
Daily Pivot Point S2	13.66
Daily Pivot Point S3	13.42
Daily Pivot Point R1	14.71
Daily Pivot Point R2	14.96
Daily Pivot Point R3	15.36

Author

Flavio Tosti

Independent Analyst

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