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 06/23/2020 (GMT)

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Timeframe : Daily
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Court terme: Strongly bullish

De fond: Strongly bullish

Technical indicators

61%

33%

My opinion

Bullish above 17.21 USD

My targets

18.58 USD (+4.38%)

19.57 USD (+9.94%)

My analysis

All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on SILVER as long as the price remains well above 17.21 USD. The buyers” bullish objective is set at 18.58 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 19.57 USD. If there is any crossing, the next objective would be the resistance located at 20.70 USD. However, beware of bullish excesses that could lead to a possible short-term correction; but this possible correction would not be tradeable.

Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.

Force

7.9

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 Vincent Launay. Take part yourself by sharing additional analysis on another time unit:

Additional analysis

Quotes

SILVER rating 17.80 USD. On the day, this instrument gained +0.00% and was between 17.66 USD and 17.88 USD. This implies that the price is at +0.79% from its lowest and at -0.45% from its highest.

17.66

17.88

17.80

The Central Gaps scanner detects a bullish opening marking the presence of buyers ahead of sellers at the opening but not sufficiently marked to allow the price to register a quotation gap.

Bullish opening

Type : Bullish

Timeframe : Openning

Here is a more detailed summary of the historical variations registered by SILVER:

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

Near a new HIGH record (1 month)

Type : Bullish

Timeframe : Weekly

Technical

Technical analysis of SILVER in Daily shows a strongly overall bullish trend. The signals given by the moving averages are 92.86% bullish. This strong bullish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.

The technical indicators are bullish. There is still some doubt about the price increase.
Caution: the Central Indicators scanner currently detects an excess:

Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : Daily

Other results related to technical indicators were also found by the Central Indicators scanner:

Parabolic SAR indicator bullish reversal

Type : Bullish

Timeframe : Daily

Momentum indicator is back over 0

Type : Bullish

Timeframe : Daily

Williams %R indicator is back over -50

Type : Bullish

Timeframe : Daily

No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.

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

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	15.65	16.57	17.21	17.80	18.58	19.57	20.70
Change (%)	-12.08%	-6.91%	-3.31%	-	+4.38%	+9.94%	+16.29%
Change	-2.15	-1.23	-0.59	-	+0.78	+1.77	+2.90
Level	Major	Minor	Major	-	Major	Minor	Intermediate

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

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	17.21	17.42	17.61	17.82	18.01	18.22	18.41
Camarilla	17.69	17.73	17.76	17.80	17.84	17.87	17.91
Woodie	17.20	17.42	17.60	17.82	18.00	18.22	18.40
Fibonacci	17.42	17.57	17.67	17.82	17.97	18.07	18.22

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	16.23	16.58	17.10	17.45	17.97	18.32	18.84
Camarilla	17.37	17.45	17.53	17.61	17.69	17.77	17.85
Woodie	16.31	16.62	17.18	17.49	18.05	18.36	18.92
Fibonacci	16.58	16.92	17.12	17.45	17.79	17.99	18.32

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	12.54	13.63	15.74	16.83	18.94	20.03	22.14
Camarilla	16.98	17.27	17.57	17.86	18.15	18.45	18.74
Woodie	13.06	13.89	16.26	17.09	19.46	20.29	22.66
Fibonacci	13.63	14.85	15.60	16.83	18.05	18.80	20.03

Numerical data

The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:

Technical indicators

Moving averages

RSI (14):	60.47
MACD (12,26,9):	0.2900
Directional Movement:	8.27
AROON (14):	-21.43
DEMA (21):	17.90
Parabolic SAR (0,02-0,02-0,2):	16.96
Elder Ray (13):	0.19
Super Trend (3,10):	16.66
Zig ZAG (10):	17.78
VORTEX (21):	1.0700
Stochastique (14,3,5):	61.22
TEMA (21):	17.79
Williams %R (14):	-32.80
Chande Momentum Oscillator (20):	0.36
Repulse (5,40,3):	0.1100
ROCnROLL:	1
TRIX (15,9):	0.3300
Courbe Coppock:	0.98

MA7:	17.57
MA20:	17.65
MA50:	16.50
MA100:	16.29
MAexp7:	17.64
MAexp20:	17.46
MAexp50:	16.86
MAexp100:	16.63
Price / MA7:	+1.31%
Price / MA20:	+0.85%
Price / MA50:	+7.88%
Price / MA100:	+9.27%
Price / MAexp7:	+0.91%
Price / MAexp20:	+1.95%
Price / MAexp50:	+5.58%
Price / MAexp100:	+7.04%

Quotes : 2020-06-23 08:40:10 - Real time data - Gold & Silver Spot

News

The last news published on SILVER at the time of the generation of this analysis was as follows:

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

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