Silver New York Price Forecast: XAG/USD directionless, trades just below $15.00/oz

Silver is continuing the sideways theme just below $15.00/oz key level.
XAG/USD has little directional bias as the range is tightening.

Silver four-hour chart

XAG/USD remains sidelined just below $15.00/oz and the 50 /100 SMAs but above the 200 SMA on the four-hour chart. The picture is mixed and market participants are waiting for a clear direction. A daily break below the 15.50 support can have bearish implication and lead to further selling interest. Conversely, a break beyond 15.43 could see an acceleration higher.

Resistance: 15.43, 15.85, 16.50

Support: 14.50, 13.90, 13.25

Additional key levels

May 5, 2020

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