Silver 1 OZ 999 NY (XAG=X) continues to see a lot of volatility
Silver markets went back and forth during the trading session on Monday as we continue to see a lot of volatility. Remember though, silver has been in an uptrend lately so therefore a grind higher is probably most likely.
Silver markets went back and forth during the trading session on Monday, as markets are trying to figure out where to go next. Ultimately, we have been grinding higher over the last couple of months, and we also have the 50 day EMA underneath.
Beyond that, the uptrend line should offer support, but we may get a bit of chop in a back-and-forth type of action going forward. At this point in time, the market looks likely to continue to grind towards the $18.75 level, which has been significant resistance. At this point, the market is likely to continue to try to break above there and reach above the $19.00 level.
Overall, the bias in prices is: Upwards.
By the way, prices are vulnerable to a correction towards 17.42.
The projected upper bound is: 18.97.
The projected lower bound is: 17.09.
The projected closing price is: 18.03.
A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 5 white candles and 5 black candles. During the past 50 bars, there have been 25 white candles and 25 black candles.
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.
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 76.1336. This is not an overbought or oversold reading. The last signal was a buy 23 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 56.94. 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 42 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 103.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a sell 4 period(s) ago.
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 10 period(s) ago.
Rex Takasugi – TD Profile
PREC.M.XAG= closed down -0.065 at 18.020. Volume was 8,900% above average (trending) and Bollinger Bands were 46% narrower than normal.
Open High Low Close Volume___
18.120 18.229 17.930 18.020 33,143
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 17.86 17.90 16.07
Volatility: 15 33 23
Volume: 3,314 663 166
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.
PREC.M.XAG= is currently 12.1% above its 200-period moving average and is in an upward 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 into XAG= (bullish). Our trend forecasting oscillators are currently bullish on XAG= and have had this outlook for the last 5 periods.