The Hourly View for Silver
- At the time of this writing, XAGUSD’s price is down $-0.04 (-0.16%) from the hour prior.
- This is the 2nd hour in a row Silver has seen its price head down.
- Regarding the trend, note that the strongest trend 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.
The Daily View for Silver
- At the moment, XAGUSD’s price is up $0.09 (0.41%) from the day prior.
- This is the 3rd 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 50 day 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 daily candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
- 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.
Featured Silver Idea From TradingView
Below is a trading comment entitled Short on the XAGUSD you may find interesting:
Nice sell set up on Silver. Looking to follow established trend. Good luck.