Silver Snaps a 3 Day Up Streak

The Hourly View for Silver

  • Currently, XAGUSD’s price is down $-0.01 (-0.04%) from the hour prior.
  • Silver has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears.
  • As for the trend on the hourly timeframe, we see the clearest trend on the 20 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 moment, XAGUSD’s price is down $-0.04 (-0.15%) from the day prior.
  • This move is a reversal from the day prior, which saw price move up.
  • Regarding the trend, note that the strongest trend exists on the 100 day timeframe.
  • Price action traders may also wish to note that we see a pin bar candlestick pattern on Silver. Given that we see downtrend on the 20 daily candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • The moving averages on the daily 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.
  • Divergence between XAGUSD’s price and its RSI may be manifesting. As such, be on the lookout for trend reversal in XAGUSD’s price.

Below is a daily price chart of Silver.

XAGUSD

Featured Silver Idea From TradingView

Below is a trading comment entitled Trading Signal For Silver you may find interesting:

Trading Signal: A Trading Signal is seen in the XAGUSD Silver Traders can open their Buy Trades NOW Rank : ⭐️⭐️⬆️Buy on neckline breakout or Buy on 22.15⭕️SL: Close below 21.95🔵TP1 @ 23.05🔵TP2 @ 24.20 🔵TP3 @ 25.55If you liked our ideas, please support us with your likes 👍 and comments .

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