Silver Came Into Today Up 0.1%

The Hourly View for Silver

  • Currently, XAGUSD’s price is down $0 (0%) from the hour prior.
  • This is a reversal of the price action on the previous hour, in which price moved up.
  • As for the trend on the hourly timeframe, we see the clearest trend on the 50 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

  • At the moment, XAGUSD’s price is up $0.02 (0.1%) from the day prior.
  • This is a reversal of the price action on the previous day, in which price moved down.
  • As for the trend on the daily timeframe, we see the clearest trend on the 50 day timeframe.
  • Price action traders may also wish to note that we see a pin bar candlestick pattern 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 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.
  • 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

Featured Silver Idea From TradingView

Below is a trading comment entitled SILVER (XAGUSD) Is That a Bearish Signal?!🥈 you may find interesting:

https://www.tradingview.com/x/3Hgb6lFr/ Hey traders,Have you noticed this bearish breakout of a rising wedge pattern on a daily?Taking into consideration that silver is trading in a bearish trend since August,that may lead to a bearish continuation.For now, I believe that the price may reach 23.04 level with a potential extension to 22.2 current structure low. ❤️Please, support this idea with a like and comment!❤️

VasilyTrader