SILVER - USD

- USD (-)

- Real time data - Gold & Silver Spot

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Type:	Commodities
Ticker:	XAGUSD
ISIN:

SILVER - USD - Daily - Technical analysis published on 05/01/2024 (GMT)

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Timeframe : Daily
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Short term: Neutral

Underlying: Bullish

Technical indicators

17%

44%

39%

My opinion

Bullish above 25.47 USD

My targets

27.59 USD (+4.79%)

28.53 USD (+8.36%)

My analysis

Has the basic bullish trend slowed or is it lacking in power? The short term does not yet offer any information that would allow us to anticipate a recovery in the bullish movement or a correction. Sellers' generally have the upper hand, even if a small correction (not tradeable) on the support located at 25.47 USD remains possible. It is advisable to trade SILVER - USD with the greatest caution, while favouring long positions (at the time of purchase) as long as the price remains well above 25.47 USD. The next bullish objective for buyers is set at 27.59 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 28.53 USD. If there is any crossing, the next objective would be the resistance located at 29.77 USD. PS: if there is a bearish break in the support located at 25.47 USD we suggest that you produce a new automated technical analysis. In fact, conditions should have changed. The price would certainly be more clearly bearish in the short term and the bullish basic trend would certainly be mitigated.

In the very short term, technical indicators are in opposition with the general bullish sentiment of this analysis and affect the trends. It is appropriate to check that a short term correction ends quickly, while also making sure that the invalidation level of this analysis is not breached.

Force

1.6

Comment on the analysis

Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.

This analysis was given by KUNAL JAGANI. Take part yourself by sharing additional analysis on another time unit:

Additional analysis

Quotes

SILVER - USD rating 26.33 USD. The price registered a decrease of -0.08% on the session and was traded between 26.28 USD and 26.46 USD over the period. The price is currently at +0.19% from its lowest and -0.49% from its highest.

26.28

26.46

26.33

A study of price movements over other periods shows the following variations:

The study of the highest / lowest by the Central Records scanner shows the following result:

Near a new LOW record (1 month)

Type : Bearish

Timeframe : Weekly

Technical

Technical analysis of this Daily chart of SILVER - USD indicates that the overall trend is bullish. The signals given by moving averages are 71.43% bullish. This bullish trend could slow down given the neutral signals currently being given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.

In fact, only 8 technical indicators out of 18 studied are currently positioned bearish. Caution: the Central Indicators scanner currently detects an excess:

CCI indicator is oversold : under -100

Type : Neutral

Timeframe : Daily

Williams %R indicator is oversold : under -80

Type : Neutral

Timeframe : Daily

Central Indicators, the detector scanner for these technical indicators recently detected a signal:

Pivot points : price is under support 1

Type : Neutral

Timeframe : Weekly

Central Patterns, the scanner specializing in chart patterns, did not identify any signals.

The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	23.41	24.45	26.20	26.33	27.59	28.53	29.77
Change (%)	-11.09%	-7.14%	-0.49%	-	+4.79%	+8.36%	+13.06%
Change	-2.92	-1.88	-0.13	-	+1.26	+2.20	+3.44
Level	Minor	Intermediate	Major	-	Major	Major	Major

Attention could also be paid to pivot points to set price objectives:

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	25.11	25.68	26.01	26.58	26.91	27.48	27.81
Camarilla	26.10	26.19	26.27	26.35	26.43	26.52	26.60
Woodie	25.00	25.62	25.90	26.52	26.80	27.42	27.70
Fibonacci	25.68	26.02	26.23	26.58	26.92	27.13	27.48

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	24.29	25.47	26.35	27.53	28.41	29.59	30.47
Camarilla	26.65	26.84	27.03	27.22	27.41	27.60	27.79
Woodie	24.13	25.40	26.19	27.46	28.25	29.52	30.31
Fibonacci	25.47	26.26	26.75	27.53	28.32	28.81	29.59

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	19.08	21.92	24.13	26.97	29.18	32.02	34.23
Camarilla	24.96	25.42	25.89	26.35	26.81	27.28	27.74
Woodie	18.78	21.76	23.83	26.81	28.88	31.86	33.93
Fibonacci	21.92	23.85	25.04	26.97	28.90	30.09	32.02

Numerical data

The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:

Technical indicators

Moving averages

RSI (14):	45.51
MACD (12,26,9):	0.2900
Directional Movement:	0.55
AROON (14):	-85.72
DEMA (21):	27.62
Parabolic SAR (0,02-0,02-0,2):	29.00
Elder Ray (13):	-0.78
Super Trend (3,10):	26.08
Zig ZAG (10):	26.37
VORTEX (21):	1.0600
Stochastique (14,3,5):	6.61
TEMA (21):	27.19
Williams %R (14):	-97.47
Chande Momentum Oscillator (20):	-2.55
Repulse (5,40,3):	-3.5200
ROCnROLL:	-1
TRIX (15,9):	0.3600
Courbe Coppock:	6.02

MA7:	26.97
MA20:	27.65
MA50:	25.62
MA100:	24.37
MAexp7:	26.93
MAexp20:	27.06
MAexp50:	26.01
MAexp100:	25.01
Price / MA7:	-2.37%
Price / MA20:	-4.77%
Price / MA50:	+2.77%
Price / MA100:	+8.04%
Price / MAexp7:	-2.23%
Price / MAexp20:	-2.70%
Price / MAexp50:	+1.23%
Price / MAexp100:	+5.28%

Quotes : - Real time data - Gold & Silver Spot

News

Don't forget to follow the news on SILVER - USD. At the time of publication of this analysis, the latest news was as follows:

This member declared not having a position on this financial instrument or a related financial instrument.

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