The Hourly View for Silver
- At the time of this writing, XAGUSD’s price is down $-0.02 (-0.07%) 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 100 hour timeframe.
- Of note is that the 20 hour changed directions on XAGUSD; it is now pointing down. 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.
The Daily View for Silver
- Currently, XAGUSD’s price is up $0.03 (0.1%) from the day prior.
- This move is a reversal from the day prior, which saw price move down.
- If you’re a trend trader, consider that the strongest clear trend on the daily chart exists 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 downtrend on the 10 daily candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
- Of note is that the 50 day changed directions on XAGUSD; it is now pointing up. 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 Tested Support At $24.50 you may find interesting:
Silver has recently made an attempt to settle below $25.00 but received support at $24.50 and rebounded back to the $25 level. If silver manages to settle below $25.00, it will get to another test of the support at $24.70.In case silver declines below the support at $24.70, it will head toward…