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 10/20/2021 (GMT)

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Timeframe : Daily
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Short term: Strongly bullish

Underlying: Neutral

Technical indicators

83%

11%

My opinion

Bullish above 22.80 USD

My targets

24.74 USD (+3.64%)

26.35 USD (+10.39%)

My analysis

The current short-term bullish acceleration on SILVER - USD should quickly allow the basic trend to return to bullish. To avoid contradicting the short term, traders may prefer long positions (at the time of purchase) as long as the price remains well above 22.80 USD. Short-term buyers will use the resistance located at 24.74 USD as an objective. A bullish break in this resistance would boost the bullish momentum. The next bullish objective would then be set at 26.35 USD. Crossing this resistance would then open the door for buyers to target 28.24 USD. Caution, if there is a return to under 22.80 USD, it should not be forgotten that the basic trend is not yet clearly defined. Beware of against the trend sellers, many of whom will certainly benefit from this movement.

In the very short term, the general bullish sentiment is confirmed by technical indicators. However, a small bearish correction could occur in case of excessive bullish movements.

Force

3.6

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

Additional analysis

Quotes

The SILVER - USD price is 23.87 USD. On the day, this instrument gained +0.97% and was traded between 23.56 USD and 23.93 USD over the period. The price is currently at +1.32% from its lowest and -0.25% from its highest.

23.56

23.93

23.87

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

The Central Records scanner, which identifies the highest / lowest, has detected an element:

Near a new HIGH record (1 month)

Type : Bullish

Timeframe : Weekly

Technical

Technical analysis of this Daily chart of SILVER - USD indicates that the overall trend is not clearly defined. This indecision could turn into a bullish trend due to the strong bullish signals currently being given by short-term moving averages. An assessment of moving averages reveals several bullish signals that could impact this trend:

Bullish trend reversal : Moving Average 50

Type : Bullish

Timeframe : Daily

Bullish trend reversal : adaptative moving average 50

Type : Bullish

Timeframe : Daily

Bullish price crossover with Moving Average 50

Type : Bullish

Timeframe : Daily

Bullish price crossover with adaptative moving average 50

Type : Bullish

Timeframe : Daily

In fact, according to the parameters integrated into the Central Analyzer system, 15 technical indicators out of 18 analysed are currently bullish. Caution: the Central Indicators scanner currently detects an excess:

CCI indicator is overbought : over 100

Type : Neutral

Timeframe : Daily

Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : Daily

Central Indicators, the scanner specialised in technical indicators, has identified these signals:

Pivot points : price is over resistance 1

Type : Neutral

Timeframe : Weekly

MACD indicator is back over 0

Type : Bullish

Timeframe : Daily

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

The presence of a bullish Japanese candlestick pattern detected by Central Candlesticks that could cause a very short term rebound was also detected:

Bullish engulfing lines

Type : Bullish

Timeframe : Daily

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	20.70	21.56	22.65	23.87	24.02	24.74	26.35
Change (%)	-13.28%	-9.68%	-5.11%	-	+0.63%	+3.64%	+10.39%
Change	-3.17	-2.31	-1.22	-	+0.15	+0.87	+2.48
Level	Major	Major	Major	-	Major	Intermediate	Major

Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	22.25	22.72	23.18	23.65	24.11	24.58	25.04
Camarilla	23.38	23.47	23.56	23.64	23.73	23.81	23.90
Woodie	22.25	22.72	23.18	23.65	24.11	24.58	25.04
Fibonacci	22.72	23.08	23.30	23.65	24.01	24.23	24.58

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	21.32	21.83	22.57	23.08	23.82	24.33	25.07
Camarilla	22.97	23.08	23.20	23.31	23.43	23.54	23.65
Woodie	21.44	21.89	22.69	23.14	23.94	24.39	25.19
Fibonacci	21.83	22.31	22.60	23.08	23.56	23.85	24.33

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	17.27	19.35	20.72	22.80	24.17	26.25	27.62
Camarilla	21.15	21.47	21.78	22.10	22.42	22.73	23.05
Woodie	16.93	19.17	20.38	22.62	23.83	26.07	27.28
Fibonacci	19.35	20.67	21.48	22.80	24.12	24.93	26.25

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):	61.55
MACD (12,26,9):	0.0700
Directional Movement:	9.98
AROON (14):	92.86
DEMA (21):	23.05
Parabolic SAR (0,02-0,02-0,2):	22.11
Elder Ray (13):	0.61
Super Trend (3,10):	22.01
Zig ZAG (10):	23.87
VORTEX (21):	1.1100
Stochastique (14,3,5):	84.23
TEMA (21):	23.41
Williams %R (14):	-10.75
Chande Momentum Oscillator (20):	1.27
Repulse (5,40,3):	2.6600
ROCnROLL:	1
TRIX (15,9):	-0.0900
Courbe Coppock:	8.77

MA7:	23.31
MA20:	22.76
MA50:	23.28
MA100:	24.62
MAexp7:	23.37
MAexp20:	23.06
MAexp50:	23.45
MAexp100:	24.20
Price / MA7:	+2.40%
Price / MA20:	+4.88%
Price / MA50:	+2.53%
Price / MA100:	-3.05%
Price / MAexp7:	+2.14%
Price / MAexp20:	+3.51%
Price / MAexp50:	+1.79%
Price / MAexp100:	-1.36%

Quotes : - Real time data - Gold & Silver Spot

News

The last news published on SILVER - USD 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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