Is Momentum Changing for Silver? Price Just Crossed Below Its 200 Day Moving Average

The Hourly View for Silver

  • At the moment, XAGUSD’s price is up $0.03 (0.13%) from the hour prior.
  • Silver has seen its price go up 9 out of the past 10 hours, thus creating some compelling opportunities for bulls.
  • Regarding the trend, note that the strongest trend exists on the 100 hour timeframe.
  • The moving averages on the hourly 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.

Silver’s hourly price chart is shown below.

XAGUSD

The Daily View for Silver

  • Currently, XAGUSD’s price is up $0.58 (2.37%) from the day prior.
  • The daily chart shows that Silver has seen 2 straight up days.
  • As for the trend on the daily timeframe, we see the clearest trend on the 20 day timeframe.
  • Most noteworthy in the world of moving averages on the daily chart is that the 200 day moving average has been crossed, with price now being above 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.

Below is a daily price chart of Silver.

XAGUSD

Featured Silver Idea From TradingView

Below is a trading comment entitled Silver Tests Resistance At $24.70 you may find interesting:

Silver managed to settle above the resistance at $24.50 and is testing the next resistance level at $24.70. RSI has rebounded in recent trading sessions but remains far below March highs, and there is plenty of room to gain additional upside momentum.In case silver settles above $24.70, it will head towards the resistance at $25.00. A move ab…

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