The Hourly View for Silver
- At the time of this writing, XAGUSD’s price is up $0.03 (0.09%) 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.
The Daily View for Silver
- Currently, XAGUSD’s price is up $0.97 (3.75%) from the day prior.
- This is a reversal of the price action on the previous day, in which price moved down.
- Regarding the trend, note that the strongest trend exists on the 100 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 Another Attempt To Settle Above Key Resistance At $26.30 you may find interesting:
Silver gained upside momentum at the start of the week and is trying to settle above the major resistance at $26.30. RSI is in the moderate territory, and there is plenty of room to gain additional momentum in case the right catalysts emerge.In case silver settles above $26.30, it will get to the test of the next resistance level at $26.65…