Silver is Up for the 3rd Day in a Row

The Hourly View for Silver

  • At the time of this writing, XAGUSD’s price is up $0.09 (0.34%) from the hour prior.
  • This is the 2nd hour in a row Silver has seen its price head up.
  • If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe.
  • The moving averages on the hourly 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.

Silver’s hourly price chart is shown below.

XAGUSD

The Daily View for Silver

  • At the time of this writing, XAGUSD’s price is up $0.76 (2.75%) from the day prior.
  • It’s been a feast for bulls operating on the daily timeframe, as Silver has now gone up 4 of the past 5 days.
  • As for the trend on the daily timeframe, we see the clearest trend on the 50 day timeframe.
  • Of note is that the 200 day changed directions on XAGUSD; it is now pointing up. 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 Gains Ground While Gold Moves To Multi-Week Highs you may find interesting:

Silver managed to settle above the resistance at $27.50 and is testing the next resistance level at $27.75. In case this test is successful, silver will move towards the resistance at $28.30.RSI is in the moderate territory so there is plenty of room to gain additional momentum in case the right catalysts emerge. In addition, there are no important levels between $27.75 and …

FXEmpirecom