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4 May 2020
Silver New York Price Forecast: XAG/USD kicks in the week sidelined just below $15.00/oz
- Silver is starting the week by trading just below $15.00/oz key level.
- The level to beat for bulls stay the 15.43 resistance.
Silver four-hour chart
XAG/USD stays sidelined just below $15.00/oz and the 50 and 100 SMAs but above the 200 SMA on the four-hour chart. The correction originating from the 2020 lows remains intact as silver consolidated throughout April. Moreover, it is worth noting that 15.00 was also pivotal last month. Therefore, in the medium-term bulls can still be looking for a break above the 15.43 resistance opening the gates to the 15.85 and 16.50 levels. On the flip side, 14.50 can act as support followed by 13.90 price level.
Resistance: 15.43, 15.85, 16.50
Support: 14.50, 13.90, 13.25
Additional key levels