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28 May 2020
Silver New York Price Forecast: XAG/USD pressuring monthly tops, trades near $17.40/oz
- XAG/USD is trading in 10-week highs near the 17.40 per troy ounce.
- The level to beat for bulls is the 17.45 resistance.
Silver four-hour chart
Silver is trading in 10-week tops just under the $17.45 per troy ounce level. The white metal is regaining steam while above the main SMAs on the four-hour chart. However, bulls would need a clear break above the 17.45 level to extend gains towards the 18.20 and 18.80 levels. On the flip side, a daily break below the 16.80 support can lead to a deep retracement towards the 15.84 level.
Resistance: 17.45, 18.20, 18.80
Support: 16.80, 15.84, 15.42
Additional key levels