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6 May 2020
Silver New York Price Forecast: The range is tightening on XAG/USD
- Silver sideways theme near $15.00/oz key level remains intact.
- Investors are likely waiting for a catalyst.
Silver four-hour chart
XAG/USD stays sidelined near $15.00/oz and just below the 50 /100 SMAs but above the 200 SMA on the four-hour chart. The situation is mixed with market participants likely awaiting for a clear direction or catalyst. A daily close below the 14.50 support can attract further selling. However, a break above 15.43 could lead to more up.
Resistance: 15.43, 15.85, 16.50
Support: 14.50, 13.90, 13.25
Additional key levels