The Hourly View for Silver
- At the time of this writing, XAGUSD’s price is up $0.04 (0.15%) from the hour prior.
- This is a reversal of the price action on the previous hour, in which price moved down.
- Regarding the trend, note that the strongest trend exists on the 50 hour timeframe.
- Price action traders may also wish to note that we see a doji candlestick pattern on Silver. Given that we see an uptrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
- 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.
The Daily View for Silver
- At the time of this writing, XAGUSD’s price is up $0.45 (1.77%) from the day prior.
- This is the 3rd day in a row Silver has seen its price head up.
- 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 100 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.
Featured Silver Idea From TradingView
Below is a trading comment entitled Silver Gains Ground As Treasury Yields Move Lower you may find interesting:
Silver gained strong upside momentum and managed to get above the 50 EMA at $25.65. The next resistance level is located at $25.85.In case silver manages to settle above this level, it will move towards the resistance at $26.25 – $26.30. A successful test of this level wi…