The Hourly View for Silver
- Currently, XAGUSD’s price is down $-0.01 (-0.03%) from the hour prior.
- This move is a reversal from the hour prior, which saw price move up.
- Regarding the trend, note that the strongest trend exists on the 20 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.
- 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
- Currently, XAGUSD’s price is up $0.27 (1.13%) from the day prior.
- This is a reversal of the price action on the previous day, in which price moved down.
- Regarding the trend, note that the strongest trend exists on the 50 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: it doesn’t hurt to try you may find interesting:
And so, SILVER is definitely in a downtrend, but at the same time, the buyer does not let the sellers relax. The expected price increase between 23.94530 and 24.21240 will give more confidence in a possible breakout from the downtrend channel.Remember, there is no place for luck in trading – only strategy!Thanks for the likes and comments