Home Silver New York Price Forecast: XAG/USD drops to one-week low

Silver New York Price Forecast: XAG/USD drops to one-week low

Updated: 5 Jun. 2020 | 15:27

XAG/USD trades in one week low as expected.
The level to beat for bears is the 17.25 support.

Silver four-hour chart

Silver is dropping as expected while bears are about to challenge the 17.25 support level near the 100 SMA on the four-hour chart. As the market is losing steam and is trading in one week low, a break below the mentioned level can open the door to further losses towards the 16.75 and 16.10 level. On the other hand, resistance can emerge near the 17.75 level.

Resistance: 17.75, 18.40, 18.80

Support: 17.25, 16.75, 16.10

Additional key levels

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