Live Trading News
Live Financial News
  • facebook
  • twitter
  • google_plus
  • Email

New Turmoil In The Stock Market Would Benefit Silver (XAG=X)

By HEFFX on September 10, 2020

$XAG #Silver #FX #Commodities #Trading #Markets #Metals

Silver
Ticker: XAG=
Price: $26.60

Silver Outlook

Silver prices are modestly up in midday U.S. trading Thursday, supported in part by a weaker U.S. dollar index on this day and by the overall bullish chart postures for both metals. Prices are well their daily highs, however. October gold futures were last up $8.50 at $1,955.30 and December Comex silver was last up $0.157 at $27.245 an ounce.

Global stock markets were mostly weaker overnight. U.S. stock indexes are weaker at midday. Traders and investors are wondering if the rebound in the U.S. stock market will continue, following solid gains posted in the stock indexes Wednesday. The months of September and October can produce serious turbulence in the stock and financial markets. New turmoil in the stock markets should benefit the safe-haven gold and silver markets.

The regular monetary policy meeting of the European Central Bank was Thursday. The ECB did not make any significant changes in policy, as expected, and said rates will remain low until inflation hits its target rate of around 2% annually.  

The important outside markets today see the U.S. dollar index slightly weaker but well up from its daily low, following decent gains posted earlier this week. Nymex crude oil prices lower and trading around $37.75. The yield on the U.S. Treasury 10-year note is trading around 0.7% today.

Technical Indicators

Overall, the bias in prices is: Upwards.

Note: this chart shows extraordinary price action to the upside.

The projected upper bound is: 29.77.

The projected lower bound is: 23.80.

The projected closing price is: 26.78.

Candlesticks

A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 4 white candles and 6 black candles for a net of 2 black candles. During the past 50 bars, there have been 30 white candles and 19 black candles for a net of 11 white candles.

Momentum Indicators

Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 59.3625. This is not an overbought or oversold reading. The last signal was a buy 3 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 51.60. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 23 period(s) ago.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is -67. This is not a topping or bottoming area. The last signal was a sell 7 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 22 period(s) ago.

Rex Takasugi – TD Profile

PREC.M.XAG= closed down -0.310 at 26.610. Volume was 8,900% above average (trending) and Bollinger Bands were 52% narrower than normal.

Open     High    Low     Close     Volume
26.853   26.933  26.560  26.610    10,335
Technical Outlook
Short Term:        Neutral
Intermediate Term: Bearish
Long Term:         Bullish
Moving Averages: 10-period     50-period     200-period
Close:           27.16         24.61         18.70
Volatility:      32            74            53
Volume:          1,034         207           52

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

Summary

PREC.M.XAG= is currently 42.3% above its 200-period moving average and is in an downward trend. Volatility is extremely low when compared to the average volatility over the last 10 periods. There is a good possibility that there will be an increase in volatility along with sharp price fluctuations in the near future.

Our volume indicators reflect very strong flows of volume out of XAG= (bearish). Our trend forecasting oscillators are currently bearish on XAG= and have had this outlook for the last 5 periods. our momentum oscillator has set a new 14-period low while the security price has not. This is a bearish divergence.

  #best fx account, #best fx company, #best trading platform, #daily stock brief Heffx, #Make money trading with Heffx, #morning call with Heffx, #open an account fx, #shayne heffernan, #Shayne Heffernan well known economist Asia, #SILVER 1 OZ 999 NY, #silver forecast, #silver market, #silver news, #Silver price, #silver technical analysis, #silver weekly forecast, #trade like Shayne Heffernan, #trading, #xag price, #XAG=X

New Turmoil In The Stock Market Would Benefit Silver (XAG=X) added by HEFFX on September 10, 2020
View all posts by HEFFX →

The following two tabs change content below.
  • Bio
  • Latest Posts

HEFFX

HEFFX has become one of Asia’s leading financial services companies with interests in Publishing, Private Equity, Capital Markets, Mining, Retail, Transport and Agriculture that span every continent of the world. Our clearing partners have unprecedented experience in Equities, Options, Forex and Commodities brokering, banking, physical metals dealing, floor brokering and trading.

Latest posts by HEFFX (see all)

  • Tesla Is Hiring Someone To Defend Elon Musk And Fend Off Attacks By Twitter Trolls - January 20, 2021
  • PayPal Will Continue To Profit From A Huge Increase In Volume And Accounts - January 20, 2021
  • Google’s Ethical AI Division Investigating Sharing of Sensitive Documents - January 20, 2021

Related posts:

  1. Silver (XAG=X) Breakout to $30 or Correction Lower
  2. Silver (XAG=X) Below Support Level
#best fx account#best fx company#best trading platform#daily stock brief Heffx#Make money trading with Heffx#morning call with Heffx#open an account fx#shayne heffernan#Shayne Heffernan well known economist Asia#SILVER 1 OZ 999 NY#silver forecast#silver market#silver news#Silver price#silver technical analysis#silver weekly forecast#trade like Shayne Heffernan#trading#xag price#XAG=X
  • Headline News
  • Investments
  • Metals
  • Shayne Heffernan
  • Shayne Heffernan
  • Silver
  • Top Stories
Share
Related Posts

Bitcoin Price Drops over $10,000 In 2 Days

Regulators Crack Down on US Crypto Brokers

Kyoto University Start Ups

Vinco Ventures, Inc. (NASDAQ:BBIG) is a Buy

Wall Street’s Key Stock Analysts Research Report, All Buys

Cracks Appear in Money Printing Model, Bitcoin Looks Better then Ever

Hong Kong is Killing it’s Stock Exchange

  • About US
  • Calendar
  • Contact Us
    • Contributors
    • Privacy Policy
  • Free Trial
  • IR
  • Live Charts
View Desktop Version