Silver 1 OZ 999 NY (XAG=X) continue to see a lot of volatility in the overall global markets
Silver markets went back and forth during the trading session on Thursday, as we continue to see a lot of noise in global markets. Silver of course is highly sensitive to the US dollar which of course has been all over the place.
Recently though, the Federal Reserve has suggested that it was going to cut interest rates, so that could at least move one of the headways out of the way of the buyers to take advantage of what should be a longer-term uptrend. That doesn’t mean that we will go straight up in the air, but what it does mean is that we should have an underlying bullish attitude to this market.
Overall, the bias in prices is: Sideways.
By the way, prices are vulnerable to a correction towards 15.03.
The projected upper bound is: 15.54.
The projected lower bound is: 14.77.
The projected closing price is: 15.16.
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 30 white candles and 19 black candles for a net of 11 white 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 60.2602. This is not an overbought or oversold reading. The last signal was a sell 12 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 52.25. 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 14 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 -27. This is not a topping or bottoming area. The last signal was a buy 1 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 sell 7 period(s) ago.
Rex Takasugi – TD Profile
PREC.M.XAG= closed down -0.095 at 15.145. Volume was 8,900% above average (trending) and Bollinger Bands were 11% narrower than normal.
Open High Low Close Volume___
15.210 15.313 15.060 15.145 16,208
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 15.18 14.89 15.00
Volatility: 18 17 17
Volume: 1,621 324 81
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 0.9% 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 26 periods.