The Hourly View for Silver
- At the moment, XAGUSD’s price is down $0 (0%) from the hour prior.
- It’s been a feast for bears operating on an hourly timeframe, as Silver has now gone down 4 of the past 5 hours.
- As for the trend on the hourly timeframe, we see the clearest trend 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 downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
- Of note is that the 100 hour changed directions on XAGUSD; it is now pointing up. 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
- At the time of this writing, XAGUSD’s price is down $-0.11 (-0.44%) from the day prior.
- This is a reversal of the price action on the previous day, in which price moved up.
- As for the trend on the daily timeframe, we see the clearest trend 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- Time for ‘Cinderella Gold’ to FLY? you may find interesting:
NFP data tomorrow and a good result might drive the dollar even higher… a bad result will send Silver to the sky.Be prepared, this could be the ultimate time this year to BUY SILVER .One Love,the FXPROFESSOR