The Hourly View for Silver
- At the time of this writing, XAGUSD’s price is up $0.03 (0.14%) from the hour prior.
- This is the 2nd hour in a row Silver has seen its price head up.
- If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe.
- Of note is that the 50 hour changed directions on XAGUSD; it is now pointing up. The moving averages on the hourly 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.
Silver’s hourly price chart is shown below.
The Daily View for Silver
- At the moment, XAGUSD’s price is down $-0.16 (-0.72%) 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 100 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 SILVER Swing Long! Buy! you may find interesting:
https://www.tradingview.com/x/CHIxtUyo/ Hello,Traders!SILVER fell onto the massive horizontal supportExactly as I predicted in my previous Silver forecastNow, I am expecting a bullish rebound Because the support levels seems to be iron cl…