Silver 1 OZ 999 NY (XAG=X) prices extend gains
Gold and silver prices are trading with solid gains in morning U.S. dealings Wednesday. Prices have added to modest early gains and are at daily highs as the U.S. stock market opened under solid selling pressure. Safe-haven demand is featured in the metals amid worries about slowing global economic and trade growth. December gold last up $13.00 at $1,501.90.
Overall, the bias in prices is: Upwards.
The projected upper bound is: 18.56.
The projected lower bound is: 16.57.
The projected closing price is: 17.56.
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 28 white candles and 22 black candles for a net of 6 white 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 24.2986. This is not an overbought or oversold reading. The last signal was a buy 0 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 47.47. 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 19 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 -77. This is not a topping or bottoming area. The last signal was a buy 0 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 17 period(s) ago.
Rex Takasugi – TD Profile
PREC.M.XAG= closed up 0.310 at 17.545. Volume was 8,900% above average (trending) and Bollinger Bands were 5% wider than normal.
Open High Low Close Volume___
17.236 17.675 17.140 17.545 33,033
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 17.80 17.51 15.83
Volatility: 41 35 23
Volume: 3,303 661 165
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 10.9% above 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 into XAG= (bullish). Our trend forecasting oscillators are currently bearish on XAG= and have had this outlook for the last 4 periods.