Silver Just Breached This Major Moving Average Level

The Hourly View for Silver

  • At the time of this writing, XAGUSD’s price is up $0.03 (0.13%) from the hour prior.
  • This move is a reversal from the hour prior, which saw price move down.
  • If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists 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 time of this writing, XAGUSD’s price is up $0.26 (1.03%) from the day prior.
  • This move is a reversal from the day prior, which saw price move down.
  • Regarding the trend, note that the strongest trend exists on the 50 day timeframe.
  • Regarding moving averages, it should first be noted that price has crossed the 200 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 Silver Tests Resistance At $25.20 you may find interesting:

Silver continues its rebound and is trying to settle above the resistance at $25.00. RSI is in the moderate territory, and there is plenty of room to gain additional upside momentum. Silver has already tested the next resistance which is located at $25.20 but failed to move above this level.In case silver manages to settle above $2…

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