Silver Just Breached This Major Moving Average Level

The Hourly View for Silver

  • Currently, XAGUSD’s price is down $-0.02 (-0.06%) from the hour prior.
  • This is the 2nd hour in a row Silver has seen its price head down.
  • As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe.
  • Of note is that the 200 hour changed directions on XAGUSD; it is now pointing down. 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 moment, XAGUSD’s price is up $0.21 (0.77%) from the day prior.
  • Silver has seen its price go up 4 out of the past 5 days, thus creating some compelling opportunities for bulls.
  • If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 100 day timeframe.
  • Most noteworthy in the world of moving averages on the daily chart is that the 20 day moving average has been crossed, with price now being above it. The moving averages on the daily 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.

Below is a daily price chart of Silver.


Featured Silver Idea From TradingView

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