Silver

(Last Updated March 16, 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

A trend/countertrend situation exists on XAGUSD, in which a downtrend exists on shorter timeframes but an uptrend appears 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. 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.

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

The View From the Weekly Timeframe

At the time of this writing, XAGUSD’s price is up $0.35 (1.34%) from the week prior. Moreover, note that the weekly chart shows that XAGUSD has seen 2 straight up weeks. As for the trend on the weekly timeframe, we see the clearest trend on the 20 week timeframe. 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. XAGUSD’s weekly price action over the past 52 weeks can be seen via the chart below.