Search ForexCrunch
  • XAG/USD bounced up sharply from the 2020 lows as the Federal Reserve announced its largest stimulus package in history.
  • The level to beat for bulls is the 15.00 resistance.

Silver daily chart

After the sharp selloff to 2009 lows, XAG/USD bounced as the Fed announced no limit to its Quantitative Easing (QE) to respond to the coronavirus crisis.  

Silver four-hour chart 

Silver appears to have found solid support above the 14.00 level and the 50/100 SMAs on the four-hour chart as buyers want an extension up above the 15.00 figure en route to the 15.50 and 16.60 level while support could be seen near the 14.00, 13.50 and 13.00 levels.
Resistance: 15.00, 15.50, 16.60
Support: 14.00, 13.50, 13.00

Additional key levels