SILVER 1 OZ 999 NY (XAG=X) recorded its lowest London benchmark price yesterday since the “anti-arb” flash crash of late January 2016
Tuesday’s brief plunge beneath $14 put the Gold/Silver Ratio of the two metals’ prices relative to each other just shy of a 25-year high, breaking above 85 ounces of silver per 1 ounce of gold for the first time since March 1995.
Note: this chart shows extraordinary price action to the downside.
By the way, prices are vulnerable to a correction towards 15.24.
The projected upper bound is: 14.67.
The projected lower bound is: 13.71.
The projected closing price is: 14.19.
A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 3 white candles and 7 black candles for a net of 4 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 52.5964. 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 37.61. 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 -59. 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 up 0.141 at 14.230. Volume was 8,900% above average (trending) and Bollinger Bands were 14% wider than normal.
Open High Low Close Volume___
14.109 14.280 14.020 14.230 12,718
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bearish
Moving Averages: 10-period 50-period 200-period
Close: 14.24 15.08 16.18
Volatility: 19 21 20
Volume: 1,272 254 64
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 12.1% below its 200-period moving average and is in an downward 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 bearish on XAG= and have had this outlook for the last 58 periods.