The Hourly View for Silver
- At the moment, XAGUSD’s price is up $0.01 (0.05%) from the hour prior.
- It’s been a feast for bulls operating on an hourly timeframe, as Silver has now gone up 4 of the past 5 hours.
- If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 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.
The Daily View for Silver
- Currently, XAGUSD’s price is up $0.42 (1.77%) from the day prior.
- This move is a reversal from the day prior, which saw price move down.
- As for the trend on the daily timeframe, we see the clearest trend on the 50 day timeframe.
- Of note is that the 100 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 Tries To Rebound As Support At $24.00 Stays Strong you may find interesting:
Silver received support near $23.80 and rebounded back above $24.00. The nearest resistance level for silver is located at $24.20. In case silver manages to settle above this level, it will move towards the next resistance at $24.50.A successful test of the resistance at $24.50 will open the way to the …