Is Momentum Changing for Silver? Price Just Crossed Above Its 20 Day Moving Average

The Hourly View for Silver

  • At the moment, XAGUSD’s price is up $0.01 (0.04%) from the hour prior.
  • The hourly chart shows that Silver has seen 2 straight up hours.
  • Regarding the trend, note that the strongest trend exists on the 20 hour timeframe.
  • The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

Silver’s hourly price chart is shown below.

XAGUSD

The Daily View for Silver

  • Currently, XAGUSD’s price is down $-0.5 (-2.07%) from the day prior.
  • This move is a reversal from the day prior, which saw price move up.
  • As for the trend on the daily timeframe, we see the clearest trend on the 50 day timeframe.
  • Regarding moving averages, it should first be noted that price has crossed the 20 day moving average, resulting in them with price now being below it. The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.
  • Divergence between XAGUSD’s price and its RSI may be manifesting. As such, be on the lookout for trend reversal in XAGUSD’s price.

Below is a daily price chart of Silver.

XAGUSD

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