SILVER 1 OZ 999 NY (XAG=X) no major fundamental news
Gold prices are moderately lower and silver prices are slightly down in early U.S. trading Thursday. Bearish near-term technical postures for gold and silver combined with no major fundamental news to drive the markets at present are allowing both metals prices to drift sideways to lower. August gold futures were last down $3.90 an ounce at $1,228.00.
Silver settled up 0.13% at $15.515 a troy ounce, for a weekly loss of 0.35%.
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 16.19.
The projected upper bound is: 15.90.
The projected lower bound is: 14.97.
The projected closing price is: 15.44.
A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 4 white candles and 6 black candles for a net of 2 black candles. During the past 50 bars, there have been 23 white candles and 27 black candles for a net of 4 black 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 56.3063. This is not an overbought or oversold reading. The last signal was a buy 5 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 39.75. 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 5 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 -62. This is not a topping or bottoming area. The last signal was a buy 3 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 buy 0 period(s) ago.
Rex Takasugi – TD Profile
PREC.M.XAG= closed up 0.089 at 15.456. Volume was -0% below average (neutral) and Bollinger Bands were 24% wider than normal.
Open High Low Close Volume___
15.366 15.537 15.290 15.456 0
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bearish
Moving Averages: 10-period 50-period 200-period
Close: 15.47 16.17 16.54
Volatility: 18 18 20
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.
PREC.M.XAG= is currently 6.5% below its 200-period moving average and is in an downward trend. Volatility is 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 25 periods.