XAG/USD is currently not following gold as the metal is close to 2020 lows More consolidation is likely in the short term. Silver weekly chart In the first two months of 2020, Silver is keeping consolidating the advance made in 2019. The market is trading near the bottom of a rectangle formation just above the main weekly simple moving averages (SMAs). Silver is not reacting as much as gold to coronavirus fears. Silver daily chart The market is battling with the 17.00 figure and the 200 SMA on the daily chart. A daily close below the above-mentioned levels might be seen as bearish in the medium term. Silver four-hour chart Silver is trading below the main SMAs as bears want to break below the 2020 low near the 16.40 level. A break below it could lead to further losses towards the 16.10 and 15.90 price levels. On the flip side, resistance is seen near the 17.52 level and a sustained break above it could trigger buying interest towards the 17.80 and 18.25 levels. Resistance: 17.52, 17.80, 18.25 Support: 16.40, 16.10, 15.90 Additional key levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Ireland’s Varadkar: Contingency funds set aside for hard Brexit to be used for coronavirus FX Street 3 years XAG/USD is currently not following gold as the metal is close to 2020 lows More consolidation is likely in the short term. Silver weekly chart In the first two months of 2020, Silver is keeping consolidating the advance made in 2019. The market is trading near the bottom of a rectangle formation just above the main weekly simple moving averages (SMAs). Silver is not reacting as much as gold to coronavirus fears. Silver daily chart The market is battling with the 17.00 figure and the 200 SMA on the daily chart. A daily close below the above-mentioned… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
