The Hourly View for Silver
- Currently, XAGUSD’s price is up $0.01 (0.05%) from the hour prior.
- This move is a reversal from the hour prior, which saw price move down.
- If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe.
- Price action traders may also wish to note that we see a doji candlestick pattern on Silver. Given that we see an uptrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
- 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 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 $0.14 (0.58%) from the day prior.
- This move is a reversal from the day prior, which saw price move down.
- Regarding the trend, note that the strongest trend exists on the 50 day timeframe.
- Of note is that the 20 day changed directions on XAGUSD; it is now pointing up. 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 you may find interesting:
price currently pulling back into LTF d1 w1 demand zones price structure range bound but tells a story .. will wait for price action in and around them if it presents