SILVER 1 OZ 999 NY (XAG=X) investors are worried about global concerns and trade wars

SILVER 1 OZ 999 NY (XAG=X) investors are worried about global concerns and trade wars

SILVER 1 OZ 999 NY (XAG=X) investors are worried about global concerns and trade wars

Silver markets rallied significantly during the trading session on Tuesday, as we continue to worry about global concerns and trade wars. Beyond that, there are a plethora of potential landmines out there that could cause issues.

Silver markets have bounced from the 50 day EMA, as we should then go to the $15 level above. If we can break above the $15 level, then the market could go much higher, at least to the $16 level due to the consolidation area that we have been in for some time. However, I’m not a buyer of that move until we close on the daily candle stick above that level. Otherwise, if we see some type of exhaustive candle in that region, I’m more than willing to start shorting as it could send this market back down to the 50 day EMA. At this point, it’s a bit difficult to trade this market unless you are looking at a longer-term investment. In that scenario, I would be very cautious about having any form of leverage, and perhaps looking at Silver rounds or coins.

Overall, the bias in prices is: Downwards

The projected upper bound is: 14.95.

The projected lower bound is: 14.10.

The projected closing price is: 14.53.

Candlesticks

A white body occurred (because prices closed higher 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 20 white candles and 29 black candles for a net of 9 black candles.

A long upper shadow occurred. This is typically a bearish signal (particularly when it occurs near a high price level, at resistance level, or when the security is overbought).

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 70.6304. This is not an overbought or oversold reading. The last signal was a buy 9 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 54.49. 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 69 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 1 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 up 0.002 at 14.530. Volume was 8,900% above average (trending) and Bollinger Bands were 32% narrower than normal.

Open High Low Close Volume___
14.528 14.717 14.470 14.530 10,730

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

Moving Averages: 10-period 50-period 200-period
Close: 14.43 14.45 15.46
Volatility: 15 19 20
Volume: 1,073 215 54

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 6.0% below 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 2 periods.

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