Silver Does it Again: Heads Up for the 2nd Straight Day

The Hourly View for Silver

  • At the moment, XAGUSD’s price is up $0.04 (0.15%) from the hour prior.
  • This is the 2nd hour in a row Silver has seen its price head up.
  • As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe.
  • 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 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 up $0.14 (0.57%) from the day prior.
  • This is the 2nd day in a row Silver has seen its price head up.
  • If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 20 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.
  • 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 COMEX—TGT1 ALMOST ACHIEVED…..WHAT NEXT….1910/1950…..GOLD you may find interesting:

COMEX….TGT1👍 almost achieved again today also in Gold and Silver—-See Today’s buy call on few hours ago……WHAT NEXT GOLD AND SILVER TODAY????See….Gold….made a high@1937.25 range again today also……against buy@1917.00-1922.00 range today on few hours ago……See…….Silver……made a high@24.777 range again today also………against buy@24.300-24.400 range today on few hours ago……What next???S1 $1910.00/R1 $1950.00……Gold……Today……S1 $24.200/R1 $25.200……Silver…..Today….

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