Silver Just Breached This Major Moving Average Level

The Hourly View for Silver

  • At the time of this writing, XAGUSD’s price is up $0.01 (0.03%) from the hour prior.
  • The hourly chart shows that Silver has seen 2 straight up hours.
  • As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe.
  • Of note is that the 50 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.

XAGUSD

The Daily View for Silver

  • At the moment, XAGUSD’s price is up $0.27 (1.05%) from the day prior.
  • This is a reversal of the price action on the previous day, in which price moved down.
  • Regarding the trend, note that the strongest trend exists on the 50 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 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 The second situation you may find interesting:

In addition to the butterfly shape I drew in the morning, silver may also be a rising triangle. If it is a rising triangle, the future rise will be large. It’ll cost at least $39. At present, the shape of silver circumference is similar to that of gold 15min, which can be compared.

Freedom_CN