Silver

(Last Updated October 21, 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

A trend/countertrend situation exists on XAGUSD, in which a downtrend exists on shorter timeframes but an uptrend appears on the 90 day timeframe. As such, traders with short positions should be aware of the uptrend in place on the longer timeframes.

XAGUSD Moving Averages

The moving averages on XAGUSD summarize its price action in an interesting way. Of the 20, 50, 100, and 200 day averages — three of them (all but the 50) — are bullish, suggesting the trend is generally upward, save for a decline that occurred about 2 months ago. Moreover, it should also be noted that the 20 SMA just turned bullish today.

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

The View From the Weekly Timeframe

Currently, XAGUSD’s price is up $0.6 (2.48%) from the week prior. Moreover, note that this is a reversal of the price action on the previous week, in which price moved down. Regarding the trend, note that the strongest trend exists on the 20 week timeframe. 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.