The Hourly View for Silver
- At the moment, XAGUSD’s price is up $0.01 (0.03%) from the hour prior.
- This is the 2nd hour in a row Silver has seen its price head up.
- If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour 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 and 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
- 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.
The Daily View for Silver
- Currently, XAGUSD’s price is up $0.22 (0.85%) 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 20 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 Range-Bound At The Start Of The Week you may find interesting:
Silver did not manage to settle below the support at $25.85 and stays in the range between $25.85 and the resistance at $26.30. If silver settles above the high end of this range, it will head towards the next resistance level at $26.65. This resistance level has been tested several times and proved its strength. A successful test of the resistance …