Silver 1 OZ 999 NY (XAG=X) near-term chart postures have deteriorated recently

Silver 1 OZ 999 NY (XAG=X) near-term chart postures have deteriorated recently

Silver 1 OZ 999 NY (XAG=X) near-term chart postures have deteriorated recently

Gold and silver prices are moderately lower in early-afternoon U.S. trading Thursday, with gold notching at three-week low. The metals are pressured today by a solid rally in the U.S. dollar index, which also hit a three-week high. Some technical selling is also occurring in gold and silver, as their near-term chart postures have deteriorated recently. February gold futures were last down $4.20 an ounce at $1,279.80. March Comex silver was down $0.075 at $15.30 an ounce.

In fundamental developments today, the European Central Bank’s regular monetary policy meeting ended with no change in policy, as expected. The metals did not significantly react to the news, or to ECB President Mario Draghi’s press conference.

Overall, the bias in prices is: Upwards.

The projected upper bound is: 15.71.

The projected lower bound is: 14.97.

The projected closing price is: 15.34.

Candlesticks

A black body occurred (because prices closed lower 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 27 white candles and 23 black candles for a net of 4 white candles.

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 40.6051. This is not an overbought or oversold reading. The last signal was a buy 1 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 51.36. 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 10 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 -96. This is not a topping or bottoming area. The last signal was a buy 0 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 sell 8 period(s) ago.

Rex Takasugi – TD Profile

PREC.M.XAG= closed down -0.036 at 15.315. Volume was -0% below average (neutral) and Bollinger Bands were 28% narrower than normal.

Open High Low Close Volume___
15.351 15.394 15.210 15.315 0

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

Moving Averages: 10-period 50-period 200-period
Close: 15.45 14.92 15.27
Volatility: 11 16 19
Volume: 0 0 0

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 0.3% above 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 33 periods.

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