Silver Enters Today Up 0.44%

The Hourly View for Silver

  • At the moment, XAGUSD’s price is down $-0.03 (-0.11%) from the hour prior.
  • Silver has seen its price go down 8 out of the past 10 hours, thus creating some compelling opportunities for bears.
  • From a hourly perspective, the market looks fairly choppy; clear trends aren’t showing up on the 20, 50 and 100 hour timeframes.
  • 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 $0.11 (0.44%) 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 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 and 10 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 bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

Below is a daily price chart of Silver.


Featured Silver Idea From TradingView

Below is a trading comment entitled BTC/USD, Gold, Silver: Technical Outlook, Edition #30 (23/06/21) you may find interesting:

Risk sentiment improved considerably across the markets todaySpeculators have driven this change in appetite by rationalising their forecasts. Check out Technical Outlook Edition #29 to catch up on our recent post-FOMC analysisThe Fed may have only just taken its first step through the tapering talk window. However, interest rate changes are still 12 – 18 months away, a lifetime in financial markets.Keeping this in mind, let’s break down charts on the following assets:Bitcoin, BTC/USD – 4 Hour (H4) Bullish Confluence Flipped GREEN 20 EMA (Exponential Moving Average) Bullish pin-bar…