The Hourly View for Silver
- Currently, XAGUSD’s price is up $0.04 (0.17%) from the hour prior.
- This move is a reversal from the hour prior, which saw price move down.
- Regarding the trend, note that the strongest trend exists on the 50 hour timeframe.
- Price action traders may also wish to note that we see a doji candlestick pattern on Silver. Given that we see downtrend on the 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
- 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 time of this writing, XAGUSD’s price is down $0 (0%) from the day prior.
- Silver has seen its price go down 4 out of the past 5 days, thus creating some compelling opportunities for bears.
- As for the trend on the daily timeframe, we see the clearest trend on the 50 day timeframe.
- Of note is that the 100 day changed directions on XAGUSD; it is now pointing down. 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 Silver Found Support At $25.00 you may find interesting:
Silver failed to settle below the support at $25.00 and is currently trying to settle above the nearest resistance level at $25.20. In case this attempt is successful, silver will head towards the next resistance at $25.55.A move above the resistance at $25.55 will push silver towards the low end of the recent trading range between $2…