Silver 1 OZ 999 NY (XAG=X) “widely under-owned”

Silver 1 OZ 999 NY (XAG=X) “widely under-owned”

Silver 1 OZ 999 NY (XAG=X) “widely under-owned”

An economic downturn is on its way and the best hedge against a major stock market sell-off is gold, silver, and mining stocks, which are all “widely under-owned” at the moment, said hedge fund Crescat Capital.

“Precious metals are one of the few pockets of this market offering tremendous value to hedge against extreme monetary policies, bursting asset bubbles, and record global leverage,” Crescat Capital said in its Q2 2019 Research Letter. “We see this opportunity playing out across gold, silver, and related mining stocks.”

In order to capitalize on the looming economic downturn, one of the best-performing hedge funds of 2018 is focusing on precious metals.

Overall, the bias in prices is: Upwards.

Note: this chart shows extraordinary price action to the upside.

By the way, prices are vulnerable to a correction towards 15.59.

The projected upper bound is: 16.79.

The projected lower bound is: 15.87.

The projected closing price is: 16.33.

Candlesticks

A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 6 white candles and 4 black candles for a net of 2 white candles. During the past 50 bars, there have been 33 white candles and 17 black candles for a net of 16 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 53.7398. This is not an overbought or oversold reading. The last signal was a sell 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 62.20. This is not a topping or bottoming area. However, the RSI just crossed below 70 from a topping formation. This is a bearish sign. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 0 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 41. This is not a topping or bottoming area. The last signal was a sell 4 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 buy 11 period(s) ago.

Rex Takasugi – TD Profile

PREC.M.XAG= closed down -0.284 at 16.291. Volume was 8,900% above average (trending) and Bollinger Bands were 186% wider than normal.

Open     High      Low     Close     Volume___
16.550 16.566 16.170 16.291 13,165

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

Moving Averages: 10-period     50-period     200-period
Close: 16.40 15.29 15.12
Volatility: 21 19 18
Volume: 1,317 263 66

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 7.8% above its 200-period moving average and is in an upward 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 bullish on XAG= and have had this outlook for the last 40 periods.

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