Silver’s 3 Day Up Streak Comes to an End

The Hourly View for Silver

  • At the moment, XAGUSD’s price is up $0 (0.02%) 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 100 hour timeframe.
  • Price action traders may also wish to note that we see a pin bar candlestick pattern on Silver. Given that we see an uptrend on the 10 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.

XAGUSD

The Daily View for Silver

  • At the moment, XAGUSD’s price is down $-0.16 (-0.65%) from the day prior.
  • This move is a reversal from the day prior, which saw price move up.
  • As for the trend on the daily timeframe, we see the clearest trend on the 50 day timeframe.
  • 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.
  • 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 09 NOVEMBER REVIEW – 1814+23.950 GOLD AND SILVER TODAY’S TGT…. you may find interesting:

COMEX…….INTRADAY TRADING STRATEGY FOR GOLD AND SILVER……Sell Gold $1830.00-$1834.00 range(December-Future)SL $1845.00Tgt1 $1814.00Tgt2 $1809.00Tgt3 $1802.00…..Sell Silver $24.500-$24.600 range(December-Future)SL $24.850Tgt1 $23.950Tgt2 $23.800Tgt3 $23.600……

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