SILVER 1 OZ 999 NY (XAG=X) Looks Like a Good Deal
Spot silver tumbled down 10.6% in the last six months, last trading at $14.78, up 0.14% on the day, while September Comex silver was last seen at $14.76, down 0.01% on the day.
Silver is down … and has a good fundamental backdrop … For long-term investors, accumulating silver in the $13-$14 range, looks like a ‘good deal.
Overall, the bias in prices is: Downwards.
Note: this chart shows extraordinary price action to the downside.
By the way, prices are vulnerable to a correction towards 15.75.
The projected upper bound is: 15.19.
The projected lower bound is: 14.17.
The projected closing price is: 14.68.
During the past 10 bars, there have been 4 white candles and 5 black candles for a net of 1 black candles. During the past 50 bars, there have been 22 white candles and 27 black candles for a net of 5 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 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 59.2233. This is not an overbought or oversold reading. The last signal was a buy 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 35.23. 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 4 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 -63. This is not a topping or bottoming area. The last signal was a buy 2 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 6 period(s) ago.
Rex Takasugi – TD Profile
PREC.M.XAG= closed down -0.023 at 14.723. Volume was 8,900% above average (trending) and Bollinger Bands were 45% wider than normal.
Open High Low Close Volume___
14.723 14.878 14.650 14.723 9,690
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bearish
Moving Averages: 10-period 50-period 200-period
Close: 14.86 15.63 16.37
Volatility: 27 21 20
Volume: 969 194 48
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 10.0% below 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 out of XAG= (bearish). Our trend forecasting oscillators are currently bearish on XAG= and have had this outlook for the last 43 periods.
Latest posts by HEFFX Australia (see all)
- British Prime Minister Boris Johnson tests positive for coronavirus, first world leader to do so - March 27, 2020
- NASDAQ Composite (.IXIC) – Wall Street gains as job losses stir talk of more stimulus - March 27, 2020
- Dow Jones Industrial Average (.DJI) just entered a new bull-market phase - March 27, 2020