Silver Came Into Today Up 0.07%

The Hourly View for Silver

  • Currently, XAGUSD’s price is down $-0.02 (-0.06%) from the hour prior.
  • The hourly chart shows that Silver has seen 2 straight down hours.
  • If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe.
  • Price action traders may also wish to note that we see a doji candlestick pattern on Silver. Given that we see an uptrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • Of note is that the 20 hour changed directions on XAGUSD; it is now pointing up. 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 $0.02 (0.07%) from the day prior.
  • This move is a reversal from the day prior, which saw price move down.
  • Regarding the trend, note that the strongest trend exists on the 50 day timeframe.
  • Price action traders may also wish to note that we see some doji and pin bar candlestick patterns on Silver. Given that we see an uptrend on the 20 daily candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • 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 Remains Under Pressure After Yesterday’s Sell-Off you may find interesting:

Silver is currently testing the support at $27.00. If this test is successful, silver will move towards the next support level which is located near the 20 EMA at $26.65.A move below this level will push silver towards the support at $26.30. The 50 EMA is in the nearby, at $26.20, so silver will likely get material suppo…

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