The Hourly View for Silver
- At the moment, XAGUSD’s price is up $0 (0.01%) from the hour prior.
- This is the 2nd hour in a row Silver has seen its price head up.
- As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour 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 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 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.
The Daily View for Silver
- At the moment, XAGUSD’s price is down $-0.24 (-0.86%) from the day prior.
- This is a reversal of the price action on the previous day, in which price moved up.
- 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 20 day moving average, resulting in them with price now being below it. The moving averages on the daily 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.
Below is a daily price chart of Silver.
Featured Silver Idea From TradingView
Below is a trading comment entitled Silver Next you may find interesting:
Silver is currently at an undecisive zone, and nearing a Structural test. There is a good chance silver may break structure here and go down to 27.4 at least