Silver

(Last Updated January 23, 2021)

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

The Trend

As for trends on XAGUSD, we’re seeing a downtrend on shorter timeframes — but an uptrend on the 90 day timeframe. The countertrend on the shorter timeframe may provide an opportunity to buy for those interested in playing the longer term trend.

XAGUSD Moving Averages

Nuances in the trend on XAGUSD can be understood by observing the behavior of its moving averages. Of the 20, 50, 100, and 200 day averages — three of them (all but the 100) — are bullish, implying a upward trend, aside from a fall about 3 months prior.

Below is a chart showing XAGUSD’s price with its moving averages.

The View From the Weekly Timeframe

At the moment, XAGUSD’s price is up $1.21 (4.89%) from the week prior. Moreover, note that this move is a reversal from the week prior, which saw price move down. 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 choppiness in price, as the are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders. The weekly chart below shows XAGUSD’s price action over the past year.