Silver

(Last Updated November 26, 2020)

Hello! This is the news page for Silver. Below you’ll find our daily market updates. Here’s a technical analysis summary of where things currently stand:

The Trend

If we observe the 90 and 14 day timeframes, we see a downtrend in place for XAGUSD.

XAGUSD Moving Averages

Nuances in the trend on XAGUSD can be understood by observing the behavior of its moving averages. The 100 and 200 day averages are pointing upwards, suggesting a bullish trend, while the 20 and 50 day averages are pointing downward, suggesting a bearish trend on those timeframes. Ultimately, this suggests a bearish trend on shorter timeframes, compared to a bullish trend when observing more than 3 months of data.

The chart below illustrates.

The View From the Weekly Timeframe

At the moment, XAGUSD’s price is down $-0.84 (-3.5%) from the week prior. It’s been a feast for bears operating on the weekly timeframe, as XAGUSD has now gone down 4 of the past 5 weeks. If you’re a trader with a preference for rangebound markets, you may wish to note that there isn’t a clear trend on the 5, 10 and 20 week timeframes. Looking further out, the moving averages on the weekly timeframe suggest a bearishness in price, as the 20 and 50 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend. XAGUSD’s weekly price action over the past 52 weeks can be seen via the chart below.