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6 Apr 2020
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.
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