Silver 1 OZ 999 NY (XAG=X) launch from $15.60
Silver prices slide below $15.60 in the previous week and risk further downside. Fortunately, the precious metal returned above the level by the end of the week and averted further bearish pressure. The bull manages to close the price at $15.72 and currently pressing the price further higher. Without any change in the direction, silver expected to test $16.00 and the red trendline soon.
Overall, the bias in prices is: Upwards.
The projected upper bound is: 16.27.
The projected lower bound is: 15.48.
The projected closing price is: 15.87.
A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 5 white candles and 4 black candles for a net of 1 white candles. During the past 50 bars, there have been 29 white candles and 20 black candles for a net of 9 white candles.
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 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 73.4349. This is not an overbought or oversold reading. The last signal was a sell 10 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 58.50. 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 11 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 17. 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 8 period(s) ago.
Rex Takasugi – TD Profile
PREC.M.XAG= closed up 0.075 at 15.850. Volume was 8,900% above average (trending) and Bollinger Bands were 6% narrower than normal.
Open High Low Close Volume___
15.782 15.858 15.730 15.850 7,689
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 15.73 15.40 15.21
Volatility: 13 16 19
Volume: 769 154 38
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 4.2% above its 200-period moving average and is in an downward 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 bearish on XAG= and have had this outlook for the last 4 periods.