Silver’s Hot Streak: Up 4 of the Past 5 Days

The Hourly View for Silver

  • At the time of this writing, XAGUSD’s price is up $0.05 (0.19%) from the hour prior.
  • This is a reversal of the price action on the previous hour, in which price moved down.
  • 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 doji candlestick pattern on Silver. Given that we see an uptrend on the 20 and 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 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 up $0.3 (1.08%) from the day prior.
  • Silver has seen its price go up 4 out of the past 5 days, thus creating some compelling opportunities for bulls.
  • Regarding the trend, note that the strongest trend exists on the 50 day timeframe.
  • 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.

XAGUSD

Featured Silver Idea From TradingView

Below is a trading comment entitled SILVER- 3 Support Levels to Buy from you may find interesting:

Our updated Silver chart shows 3 possible support levels to Buy from.This should keep us busy up until Friday when the NFP comes out.Friday will be EPIC for the dollar and gold/silver as well.Stick around, be on alert.the FXPROFESSORPS. AGQ idea below on how to get on a stock (ETF) related to silver (the Cinderella Gold)

FX_Professor_88