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  • XAG/USD grinds up as the market trades in one-month highs. 
  • The level to beat for bulls is the 15.50 resistance.
 

Silver daily chart

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

Silver four-hour chart 

 
XAG/USD is hovering below the 15.50 level while trading above the mains SMAs on the four-hour chart as bulls are likely looking to extend the bull-run towards the 16.20 and 16.60 levels. Support could 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