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  • XAG/USD is still trading near one-month highs. 
  • The level to beat for buyers is the 16.20 resistance.

Silver daily chart

Following the sharp selloff to 2009 lows, XAG/USD is rebounding up as the Fed launched a limitless Quantitative Easing (QE). However, silver is still trading below its main SMAs on the daily chart. 

Silver four-hour chart 

XAG/USD is holding above 15.50 level while trading above the mains SMAs on the four-hour chart as the bullish recovery remains intact. The next levels to watch on the way up can be the 16.20 and 16.60 levels. Support should emerge near the 15.00, 14.50 and 14.00 levels on any pullback.
Resistance: 15.50, 16.20, 16.60
Support: 15.00, 14.50, 14.00

Additional key levels