Silver Does it Again: Heads Down for the 4th Straight Day

The Hourly View for Silver

  • Currently, XAGUSD’s price is down $0 (0%) from the hour prior.
  • This is a reversal of the price action on the previous hour, in which price moved up.
  • If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe.
  • 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 moment, XAGUSD’s price is down $-0.2 (-0.77%) from the day prior.
  • Silver has seen its price go down 4 out of the past 5 days, thus creating some compelling opportunities for bears.
  • 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.

XAGUSD

Featured Silver Idea From TradingView

Below is a trading comment entitled Silver (Will the 3rd wave bring back the BULL mkt?) you may find interesting:

View On Silver XAG/USD (8 July 2021) We are seeing some strong PUSH Back up on Silver and of course we need to see how candle ends today. If (only if) they manage to clear the 2.3 region strongly, then the BULL will swing back in.DYODD, all the best and read the disclaimer too. Feel Free to “Follow”, press “LIKE” “Comment”. Thank You! Legal Risk Disclosure:Trading foreign exchange or CFD on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to tr…

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