Search ForexCrunch
  • XAG/USD grinds higher on Good Friday as the market trades in 3.5-week highs. 
  • The level to beat for bulls is the 15.50 resistance.
 

Silver daily chart

 
In the aftermath of the drop to 2009 lows, XAG/USD is rebounding up as the Fed introduced a limitless Quantitative Easing (QE) plus the injection of $2.3 trillion in additional loans while US jobless claims grow to 6.6 million. 
  

Silver four-hour chart 

 
XAG/USD is nearing the 15.50 level while trading above the 200 SMA on the four-hour chart as buyers are looking to extend the bullish run towards the 16.20 and 16.60 levels. Support can be expected near the 15.00, 14.50 and 14.00 price levels on any pullbacks.
 
 
 
Resistance: 15.50, 16.20, 16.60
Support: 15.00, 14.50, 14.00
 
 

Additional key levels