The Hourly View for Silver
- Currently, XAGUSD’s price is up $0.02 (0.07%) from the hour prior.
- This is a reversal of the price action on the previous hour, in which price moved down.
- If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe.
- Most noteworthy in the world of moving averages on the hourly chart is that the 20 and 50 hour moving averages have been crossed, with price now being above them. 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
- Currently, XAGUSD’s price is up $0.06 (0.24%) from the day prior.
- This is a reversal of the price action on the previous day, in which price moved down.
- Regarding the trend, note that the strongest trend exists on the 100 day timeframe.
- 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/USD – LONG you may find interesting:
If you missed my last post about silver. This would be another god shot at the Cup & Handle.Looking for a wick over the weekend to trigger my long on the .618 retracement. then TP in the tough resistance zone.good luck to you all. All the best