Technicals – Timing Silver to Maximise Your Profits

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

Silver
Ticker: XAG=
Price: $24.32

Technical Indicators

Overall, the bias in prices is: Upwards.

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

By the way, prices are vulnerable to a correction towards 23.54.

The projected upper bound is: 27.12.

The projected lower bound is: 21.36.

The projected closing price is: 24.24.

Candlesticks

A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 7 white candles and 3 black candles for a net of 4 white candles. During the past 50 bars, there have been 26 white candles and 24 black candles for a net of 2 white candles.

A spinning top occurred (a spinning top is a candle with a small real body). Spinning tops identify a session in which there is little price action (as defined by the difference between the open and the close). During a rally or near new highs, a spinning top can be a sign that prices are losing momentum and the bulls may be in trouble.

Three white candles occurred in the last three days. Although these candles were not big enough to create three white soldiers, the steady upward pattern is bullish.

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 36.4907. This is not an overbought or oversold reading. The last signal was a sell 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 47.49. 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 16 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 40. This is not a topping or bottoming area. The last signal was a sell 3 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 7 period(s) ago.

Rex Takasugi – TD Profile

PREC.M.XAG= closed up 0.009 at 24.319. Volume was 8,900% above average (trending) and Bollinger Bands were 46% narrower than normal.

Open    High    Low    Close     Volume
24.250  24.400  24.150 24.319    2,713

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

Moving Averages: 10-period    50-period     200-period
Close:           24.24        25.81         19.59
Volatility:      57           71            56
Volume:          271          54            14

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 24.1% above its 200-period moving average and is in an downward trend. Volatility is high 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 bearish on XAG= and have had this outlook for the last 30 periods.

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