29 May 2020
Silver New York Price Forecast: XAG/USD rises to 3-month highs
- XAG/USD is trading at levels last seen in late February.
- The level to beat for bulls is the 17.80 resistance.
Silver four-hour chart
Silver is trading in 3-month highs just under the $17.80 per troy ounce resistance. The white metal is gaining some steam while above its main SMAs on the four-hour chart. However, buyers would need a convincing break above the 17.80 level to extend the bullish run towards the 18.20 and 18.80 levels. On the other hand, a break below the 16.80 support can lead to a deep pullback down towards the 15.84 level.
Resistance:17.80, 18.20, 18.80
Support: 17.45, 16.80, 15.84
Additional key levels