Silver Just Breached This Major Moving Average Level

The Hourly View for Silver

  • At the moment, XAGUSD’s price is down $-0.01 (-0.06%) from the hour prior.
  • This move is a reversal from the hour prior, which saw price move up.
  • Regarding the trend, note that the strongest trend exists on the 100 hour timeframe.
  • The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

Silver’s hourly price chart is shown below.

XAGUSD

The Daily View for Silver

  • At the moment, XAGUSD’s price is up $0.12 (0.49%) from the day prior.
  • Silver has seen its price go down 4 out of the past 5 days, thus creating some compelling opportunities for bears.
  • Regarding the trend, note that the strongest trend exists on the 20 day timeframe.
  • Regarding moving averages, it should first be noted that price has crossed the 50 day moving average, resulting in them so that price is now turning 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 WHAT NEXT…1910/1950….GOLD…..TODAY….. you may find interesting:

COMEX….TGT1+2👍 almost achieved again today also in Gold and Silver—-See Today’s buy call on few hours ago……WHAT NEXT GOLD AND SILVER TODAY????See….Gold….made a high@1932.00 range again today also……against buy@1910.00-1914.00 range today on few hours ago……See…….Silver……made a high@24.677 range again today also………against buy@24.210-24.310 range today on few hours ago……What next???S1 $1910.00/R1 $1950.00……Gold……Today……S1 $24.000/R1 $25.000……Silver…..Today….

hiren_garasondia1