8 Apr 2020
Silver New York Price Forecast: XAG/USD holding onto gains above $15.00/oz
- XAG/USD is bouncing up sharply from the 2020 lows as the Fed introduced its largest stimulus package ever.
- The level to beat for bulls is the 15.50 resistance.
Silver daily chart
After the sharp drop to 2009 lows, XAG/USD is bouncing up as the Fed introduced a limitless Quantitative Easing (QE) in order to respond to the coronavirus crisis.
Silver four-hour chart
Silver is parked above the 15.00 level and below the 200 SMA on the four-hour chart as bulls are looking to extend the current bullish move towards the 16.20 and 16.60 levels on the way up while support should emerge near the 15.00, 14.50 and 14.00 price levels on the way down.
Resistance: 15.50, 16.20, 16.60
Support: 15.00, 14.50, 14.00
Additional key levels