Silver Came Into Today Up 3.2%

The Hourly View for Silver

  • At the moment, XAGUSD’s price is down $-0.04 (-0.18%) from the hour prior.
  • The hourly chart shows that Silver has seen 2 straight down hours.
  • As for the trend on the hourly timeframe, we see the clearest trend 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.

XAGUSD

The Daily View for Silver

  • At the time of this writing, XAGUSD’s price is up $0.69 (3.2%) 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 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 IN BIG TROUBLE! you may find interesting:

If Silver holds below 22 on at weekly close then i will be looking at bears pushing price down to 19! 22 is such a key level as you can see on my chart this level has been used many times as key support and resistance, and taking into note that this is the weekly timeframe this makes this level VERY strong.On the daily if you take a look yourself i am looking for price to push up to 22 and retest this broken support as resistance bef…

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