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2 Apr 2020
Silver Price Analysis: XAG/USD en route to March’s highs, trades near $14.40/oz
- XAG/USD reversed up from 2020 lows as the Federal Reserve announces its largest stimulus package ever, last week.
- The level to beat for buyers is the 15.00 resistance.
Silver daily chart
Following the sharp selloff to 2009 lows, silver is bouning as the Fed announced no limit to its Quantitative Easing (QE) to face the coronavirus crisis.
Silver four-hour chart
Silver is in consolidation after the bull-run of the last weeks while the market is trading above the 14.00 level and the 50/100 SMA on the four-hour chart as bulls want an extension up above the 15.00 figure en route to the 15.50 and 16.60 level while support might 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