The Hourly View for Silver
- Currently, XAGUSD’s price is up $0.12 (0.47%) from the hour prior.
- Silver has seen its price go up 4 out of the past 5 hours, thus creating some compelling opportunities for bulls.
- Regarding the trend, note that the strongest trend exists on the 100 hour timeframe.
- Of note is that the 20 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.
The Daily View for Silver
- At the time of this writing, XAGUSD’s price is down $-0.07 (-0.28%) from the day prior.
- This is a reversal of the price action on the previous day, in which price moved up.
- Regarding the trend, note that the strongest trend 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 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 Continues To Test The Resistance At $25.00 you may find interesting:
Silver has recently tested the resistance at $25.00 but did not manage to get above this level. The nearest support level for silver is located at $24.70. If silver settles below this level, it will head towards the support at $24.50.A successful test of the support at $24.50 will push s…