The Hourly View for Silver
- At the time of this writing, XAGUSD’s price is down $-0.11 (-0.4%) from the hour prior.
- This move is a reversal from the hour prior, which saw price move up.
- If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe.
- Of note is that the 50 hour changed directions on XAGUSD; it is now pointing down. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.
Silver’s hourly price chart is shown below.
The Daily View for Silver
- At the time of this writing, XAGUSD’s price is down $-0.12 (-0.44%) from the day prior.
- This move is a reversal from the day prior, which saw price move up.
- Regarding the trend, note that the strongest trend exists on the 100 day timeframe.
- 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.
Featured Silver Idea From TradingView
Below is a trading comment entitled Silver Stays Strong As U.S. Dollar Remains Under Pressure you may find interesting:
Silver managed to settle above the resistance at $27.50 and is testing the next resistance level at $27.75. In case this test is successful, silver will move towards the resistance at $28.30.A move above the resistance at $28.30 will push silver towards the resistance level which is located at $28.90. There are no important levels between $28.30 and…