20 Apr 2020
Silver Price Analysis: XAG/USD sidelined above $15.00/oz
- XAG/USD consolidates gains above the $15.00 mark.
- The level to beat for bulls is the 15.80 resistance.
Silver daily chart
After the sharp drop to 2009 lows, silver is bouncing up as the Fed introduced a limitless Quantitative Easing (QE). However, the metal remains below its main SMAs on the daily chart.
Silver four-hour chart
XAG/USD recovery remains intact as the metal is trading above the 100/200 SMAs on the four-hour chart printing higher highs and higher lows. Buyers would need a daily close above the 15.80 resistance to open the doors towards the 16.20 and 16.60 levels. Support can be seen near the 15.00, 14.50 and 14.00 levels.
Resistance: 15.80, 16.20, 16.60
Support: 15.00, 14.50, 14.00
Additional key levels