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7 May 2020
Silver New York Price Forecast: XAG/USD sidelined near $15.00/oz
- Silver sideways action near $15.00/oz key level stays intact.
- Investors are waiting for a catalyst before committing.
Silver four-hour chart
XAG/USD remains sidelined near $15.00/oz just below the 100 SMA but above the 50 and 200 SMAs on the four-hour chart. The picture is mixed with market players awaiting for a catalyst. A daily close below the 14.50 support would attract further selling. On the flip side, a break above 15.43 could lead to more bullish traction.
Resistance: 15.43, 15.85, 16.50
Support: 14.50, 13.90, 13.25
Additional key levels