Silver (XAG=X) Consolidating Before Next Run Higher

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

Silver
Ticker: XAG=
Price: $24.23

Silver Outlook

Silver prices could go much higher. It looks like a silver price of $50.00 per ounce could arrive much sooner than many have expected.

You have to look at the demand for the gray shiny metal. Saying the very least, it’s through the roof.

Trade CFDs on FX, commodities, indices and more with Knighgtsbridge to take advantage of both rising and falling prices

Technical Indicators

Overall, the bias in prices is: Upwards.

The projected upper bound is: 26.12.

The projected lower bound is: 22.19.

The projected closing price is: 24.16.

Candlesticks

A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 6 white candles and 4 black candles for a net of 2 white candles. During the past 50 bars, there have been 26 white candles and 24 black candles for a net of 2 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 27.6069. This is not an overbought or oversold reading. The last signal was a sell 4 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 48.29. 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 buy 36 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 12. This is not a topping or bottoming area. The last signal was a sell 4 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 buy 6 period(s) ago.

Rex Takasugi – TD Profile

PREC.M.XAG= closed down -0.020 at 24.210. Volume was 8,900% above average (trending) and Bollinger Bands were 55% narrower than normal.

Open     High     Low     Close     Volume
24.230   24.360   24.130  24.210    10,689

Technical Outlook
Short Term:        Neutral
Intermediate Term: Bullish
Long Term:         Bullish

Moving Averages: 10-period     50-period      200-period
Close:           24.40         24.71          20.24
Volatility:      53            51             58
Volume:          1,069         214            53

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 19.6% above its 200-period moving average and is in an upward trend. Volatility is relatively normal as compared to the average volatility over the last 10 periods.

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 15 periods.

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