The Hourly View for Silver
- Currently, XAGUSD’s price is down $-0.02 (-0.1%) from the hour prior.
- This move is a reversal from the hour prior, which saw price move up.
- If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe.
- Of note is that the 100 hour changed directions on XAGUSD; it is now pointing up. 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.
The Daily View for Silver
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- Silver has seen its price go down 12 out of the past 14 days, thus creating some compelling opportunities for bears.
- From a daily perspective, the market looks fairly choppy; clear trends aren’t showing up on the 20, 50 and 100 day timeframes.
- Most noteworthy in the world of moving averages on the daily chart is that the 100 and 200 day moving averages have been crossed, so that price is now turning below them. 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.
Featured Silver Idea From TradingView
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