Silver is Up for the 2nd Day in a Row

The Hourly View for Silver

  • At the time of this writing, XAGUSD’s price is down $-0.02 (-0.09%) from the hour prior.
  • Silver has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears.
  • As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe.
  • 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 moment, XAGUSD’s price is up $0.03 (0.11%) from the day prior.
  • This is the 2nd day in a row Silver has seen its price head up.
  • Regarding the trend, note that the strongest trend exists on the 100 day timeframe.
  • Price action traders may also wish to note that we see some doji and pin bar candlestick patterns on Silver. Given that we see an uptrend on the 20 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 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 Another Test Of Resistance At $26.30 you may find interesting:

Silver is currently testing the resistance at $26.30. Silver has already made several attempts to settle above this level in recent trading sessions but was not able to develop sustainable upside momentum. A move above the resistance at $26.30 will open the way to the test of the next resistance at $26.65.In case silver gets above $26.65, it w…

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