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  • XAG/USD is consolidating gains above the $15.00 mark
  • The level to beat for buyers is the 15.80 resistance.
 

Silver daily chart

 
After the dramatic fall to 2009 lows, silver is rebounding up as the Fed launched a limitless Quantitative Easing (QE). However, the metal stays below the main SMAs on the daily chart. 
  

Silver four-hour chart 

 
XAG/USD recovery stays intact as silver is trading above its 100/200 SMAs on the four-hour chart making higher highs and higher lows. Bulls need a daily close above the 15.80 resistance to open the gates towards the 16.20 and 16.60 levels. Support can be expected near the 15.00, 14.50 and 14.00 levels. 
 
 
Resistance: 15.80, 16.20, 16.60
Support: 15.00, 14.50, 14.00
 

 

Additional key levels