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Sunday, September 26, 2021
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Silver (XAG=X) Is Presenting a Rare Opportunity

$XAG #Silver #FX #Commodities #Trading #Markets #Metastock

Silver
Ticker: XAG=
Price: $24.00

Silver Outlook

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The upside could be huge. If the price of silver makes a run for $75.00 per ounce, it would mean an increase of 212%.

Do I think it will happen in an instant? Not at all. For silver to rise that high, it could take some time. However, I think if silver prices hit $50.00 per ounce, the move to $75.00 would be much faster. In fact, I believe that, above the $50.00 level, there could be fireworks in the silver market.

Now, imagine what will happen to silver company stocks that are still being disregarded. A large number of them continue to sell for pennies on the dollar. If silver prices surge by 212%, it’s possible that shares of silver companies will also surge immensely.

Going into 2021, I believe silver could be one of the best-performing assets—it could outperform the stock market by a massive margin. It’s not getting attention at the moment, but those who are patient could reap big rewards.

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Assuming gold prices don’t change at all (around $1,840 per ounce at the moment), for the gold-to-silver ratio to get to 40, silver prices would have to be around $46.00 per ounce. Currently, the gray precious metal trades around $24.00 per ounce. This means the price of silver could surge by 91.7%.

You see, central banks around the world have been making a very strong case for owning the yellow precious metal. Even the big banks that didn’t really like the metal, almost all of them seem to be in favor of owning it now. So it’s likely that gold won’t remain at $1,840 for too long. I’ve even seen targets for gold as high as $3,000 per ounce.

Assuming gold prices run that high ($3,000) and assuming that the gold-to-silver ratio drops to 40, for that to happen, the gray precious metal would have to be around $75.00 per ounce!

Technical Indicators

Overall, the bias in prices is: Upwards.

The projected upper bound is: 25.59.

The projected lower bound is: 22.45.

The projected closing price is: 24.02.

Candlesticks

A white body occurred (because prices closed higher 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 28 white candles and 22 black candles for a net of 6 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 29.9907. This is not an overbought or oversold reading. The last signal was a sell 4 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 49.87. 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 58 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 26. 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 8 period(s) ago.

Rex Takasugi – TD Profile

PREC.M.XAG= closed up 0.182 at 24.000. Volume was 8,900% above average (trending) and Bollinger Bands were 47% narrower than normal.

Open    High     Low     Close     Volume
23.820  24.040   23.780  24.000    6,641
Technical Outlook
Short Term:        Neutral
Intermediate Term: Bullish
Long Term:         Bullish
Moving Averages: 10-period    50-period     200-period
Close:           24.10        24.15         20.93
Volatility:      19           41            58
Volume:          664          133           33

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 14.7% above its 200-period moving average and is in an upward trend. Volatility is low 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 bullish on XAG= and have had this outlook for the last 5 periods.

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