Silver is Down for the 2nd Day in a Row

The Hourly View for Silver

  • Currently, XAGUSD’s price is up $0.09 (0.34%) from the hour prior.
  • This is a reversal of the price action on the previous hour, in which price moved down.
  • Regarding the trend, note that the strongest trend 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, with price now being above 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.

XAGUSD

The Daily View for Silver

  • At the time of this writing, XAGUSD’s price is down $-0.32 (-1.21%) from the day prior.
  • The daily chart shows that Silver has seen 2 straight down days.
  • Regarding the trend, note that the strongest trend exists on the 20 day timeframe.
  • Of note is that the 50 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.

XAGUSD

Featured Silver Idea From TradingView

Below is a trading comment entitled SILVER Bearish Bias! Sell! you may find interesting:

https://www.tradingview.com/x/WR8drt5n/ Hello,Traders!SILVER is trading between the horizontal support and resistance And the metal failed to break the resistance level Then broke out of the rising channel And I think that after a pullback and a retest Silver is likely to go lower To retest the support below Sell!Like, comment and subscribe to boost your trading! See other ideas below too!

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