silver

Technical Analysis – Silver remains positive, bounces on 200-day SMA

Posted on June 19, 2020 at 11:36 am GMT

Silver is attempting to push back above the 17.58 key mark, after a retracement from the 18.36 peak bounced off the 200-day simple moving average (SMA). The recent bullish crossover of the 100-day SMA by the rising 50-day one may provide additional fuel to nudge the commodity back up and resume the climb. Although the red Tenkan-sen line has stalled, the Ichimoku lines still hold a positive bearing far above the Ichimoku cloud. Presently directional momentum is frail, yet the [..]

Technical Analysis – Silver touches 10-week high but returns near 200-SMA

Posted on May 19, 2020 at 1:39 pm GMT

Silver has climbed considerably higher on Monday, resting near a fresh ten-week high of 17.60, surpassing a strong key level – the 200-day simple moving average (SMA) – but the price failed to end the day above it. The momentum indicators suggest an overbought market as the stochastic completed a bearish cross within the %K and %D lines above the 80 level and the RSI is holding above 70, pointing upwards. A clear increase above 17.60 would bring the white [..]

Technical Analysis – Silver retests 50-day SMA as trend optimism rises

Posted on May 7, 2020 at 2:06 pm GMT

Silver is struggling to claim the 50-day simple moving average (SMA) but the bullish cross between that line and the 20-day SMA, although weak, is currently somewhat promising of an uptrend resumption. In order to attract buying interest and challenge its recent peak of 15.82, the metal should close above its short-term SMAs and specifically above 15.30, where the upper surface of the Ichimoku cloud lies. Then, if it manages to build gains above 15.82, traders could look for resistance [..]

Technical Analysis – Silver could retreat but will the trendline help?

Posted on April 8, 2020 at 2:44 pm GMT

Silver bulls surrendered to the 200-period moving average (SMA) on the four-hour chart earlier this week and shifted sideways, pausing the uptrend at a fresh high of 15.50. Downside risks seem to be increasing as the RSI is pointing down to its 50 neural mark and the MACD keeps losing strength below its red signal line. Yet, whether any negative correction will be noticeable will depend on the ascending trendline that has been supporting the market since the plunge to [..]

Technical Analysis – Silver maintains negative signals after pullback

Posted on March 30, 2020 at 3:43 pm GMT

Silver reversed from an 11-year low of 11.62 and a key support region which includes the 150.0% Fibonacci extension of the up leg from 14.28 to 19.63 – where buyers pushed the price back up to the area of troughs from late 2018 and mid-2019. Despite this, the Ichimoku lines continue to reflect a bearish picture in the price action with a flattened blue Kijun-sen line and the red Tenkan-sen distancing itself below. Additionally, this is also starting to be [..]

Technical Analysis – Silver recoups some losses after the plunge to 11-year bottom

Posted on March 20, 2020 at 11:08 am GMT

Silver prices have gained little over the last couple of sessions, holding above the eleven-year trough of 11.60 that was posted earlier this week. However, the 50-day simple moving average (SMA) is in the process of creating a ‘death cross’ with the 200-day SMA, confirming the steep decline in the preceding days. Regarding the near-term technical viewpoint, the stochastic is pointing marginally up in the oversold territory after the bullish cross within its %K and %D lines. Also, the RSI is moving higher beneath the 30 level, indicating a possible [..]

Technical analysis – Silver looking bearish heading towards 61.8% Fibonacci

Posted on March 12, 2020 at 9:40 am GMT

Silver sellers appear to be in control as the commodity is nearing the 16.32 barrier – that halted previous declines – which is the 61.8% Fibonacci retracement of the up leg from 14.28 to 19.63. The negative push seems to have backing from the downward sloping 50-day simple moving average (SMA) and the momentum indicators. The MACD, in the negative zone, is declining below its red trigger line, while in the bearish region the RSI is heading for the 30 [..]

Technical Analysis – Silver jumps above 18.00 and into overbought zone

Posted on February 19, 2020 at 8:21 am GMT

Silver staged a remarkable rally beyond the 18.00 number after closing above the 200-period simple moving average (SMA) on the four-hour chart on Tuesday. With the RSI signaling overbought conditions and the price currently testing a former resistance area which is near the 23.6% Fibonacci of the long upleg from 13.87 to 19.63 (November 2018- September 2019), there is an increasing possibility of a downside correction. In this scenario, the price is expected to retreat to 18.13, where it recently [..]

Technical Analysis – Silver waits patiently for fuel in a still-negative picture

Posted on December 19, 2019 at 2:40 pm GMT

Silver is attempting to move below the 16.95 level, which is the 50.0% Fibonacci retracement of the up leg from 14.28 to 19.63 and where the 20-day simple moving average (SMA) presently lies. Even though negative momentum has weakened, the bearish demeanor of the commodity appears to be assisted by the bearish crossovers and the capping of the price by the downward sloping 50-day SMA and restrictive trendline drawn from the 35-month high of 19.63. The short-term oscillators reflect the [..]

Technical Analysis – Silver turns bearish with bears pushing for further declines

Posted on November 8, 2019 at 2:32 pm GMT

Silver looks to be shifting to a bearish bias as it moves below the swing low of 16.85 from August 19. The commodity’s bearish state seems to be backed by the downward slopes in the Ichimoku lines and the 20- and 40-day simple moving averages (SMAs), with the 40-day SMA nearing a bearish cross of the 100-day one. Furthermore, the technical indicators reflect strong negative momentum in place, with the RSI currently in oversold territories, while the MACD is accelerating [..]

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