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27 Mar 2020
Silver Price Analysis: XAG/USD consolidates rebound from 2020 lows, trades near $14.40 /oz
- XAG/USD is reversing up from 2020 lows as the Federal Reserve launched its largest stimulus package in history this Monday.
- The level to beat for buyers is the 15.00 resistance.
Silver daily chart
After the sharp selloff to 2009 lows, XAG/USD is bouncing up as the Fed announced unlimited Quantitative Easing (QE) to counter the negative effect of the coronavirus crisis.
Silver four-hour chart
XAG/USD is consolidating the recent gains near weekly highs as the market is trading just below the 100 SMA on the four-hour chart. Bulls wooul need a breakout above the 15.00 resistance level which could introduce scope to the 15.50 and 16.60 levels in the medium term. Support is seen near 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