The Hourly View for Silver
- At the moment, XAGUSD’s price is down $-0.04 (-0.15%) from the hour prior.
- Silver has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears.
- If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe.
- Most noteworthy in the world of moving averages on the hourly chart is that the 200 hour moving average has been crossed, so that price is now turning below it. 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 up $0.03 (0.11%) from the day prior.
- This is a reversal of the price action on the previous day, in which price moved down.
- If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 20 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 XAGUSD D1: 35%/45% BEST level to BUY/HOLD SILVER (UPDATED) you may find interesting:
Why get subbed to me on Tradingview? -TOP author on TradingView-15+ years experience in markets-Professional chart break downs-Supply/Demand Zones-TD9 counts / combo review-Key S/R levels-No junk on my charts-Frequent updates-Covering FX/crypto/US stocks-24/7 uptime so constant updates XAGUSD D1: 35%/45% BEST level to BUY/HOLD SILVER (UPDATED)IMPORTANT NOTE: speculative setup. do your owndue dill. use STOP LOSS. don’t overleverage. 🔸 Summary and potential trade setup::: XAGUSD 1day/candle chart review::: updated/revised outlook::: setup still valid as of right now::: expecting one final throwback::: before new bull run::: get ready to B…