Silver Closed Yesterday Down -2.17%

The Hourly View for Silver

  • Currently, XAGUSD’s price is down $-0.03 (-0.12%) from the hour prior.
  • This move is a reversal from the hour prior, which saw price move 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 some doji and pin bar candlestick patterns 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.
  • 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.

XAGUSD

The Daily View for Silver

  • At the time of this writing, XAGUSD’s price is down $-0.6 (-2.17%) from the day prior.
  • This is a reversal of the price action on the previous day, in which price moved up.
  • If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 50 day timeframe.
  • Of note is that the 200 day changed directions on XAGUSD; it is now pointing down. 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.

XAGUSD

Featured Silver Idea From TradingView

Below is a trading comment entitled Silver – Short & Long Positon you may find interesting:

This is a trade idea for XAGUSD and for educational purposes only. Trade at your own risk. Past performance doesn’t guarantee future results.

LadyBLUEtifulPips