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8 May 2020
Silver Price Analysis: Silver on track to end the week in 3-week highs
- Silver wakes up at the end of the trading week and challenges the 15.40 resistance.
- Support can emerge near $15.00 per troy ounce.
Silver four-hour chart
XAG/USD is printing fresh May highs as the week comes to an end. The white metal is also trading above the main SMAs suggesting bullish momentum. A daily close above the 15.40 resistance can be significant and lead to further gains towards the 15.85 and 16.50 levels. Support can emerge near 15.00 and 14.50 levels.
Resistance: 15.40, 15.85, 16.50
Support: 15.00, 14.50, 13.90
Additional key levels