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 10/05/2023 (GMT)

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Timeframe : Daily
- Analysis generated on
Status : INVALID

Summary of the analysis

Trends

Short term: Strongly bearish

Underlying: Strongly bearish

Technical indicators

11%

72%

17%

My opinion

Bearish under 21.25 USD

My targets

20.68 USD (-1.24%)

20.04 USD (-4.30%)

My analysis

All elements being clearly bearish, it would be possible for traders to trade only short positions (for sale) on SILVER - USD as long as the price remains well below 21.25 USD. The sellers' bearish objective is set at 20.68 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 20.04 USD. In case of crossing, the next objective would be the support located at 17.83 USD. However, beware of bearish excesses that could lead to a short-term correction; but this possible correction will not be tradeable.

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

Force

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 Mark Thomer. Take part yourself by sharing additional analysis on another time unit:

Additional analysis

Quotes

The SILVER - USD rating is 20.94 USD. On the day, this instrument lost -0.48% and was traded between 20.71 USD and 21.30 USD over the period. The price is currently at +1.11% from its lowest and -1.69% from its highest.

20.71

21.30

20.94

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

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 results:

Near a new LOW record (1st january)

Type : Bearish

Timeframe : Weekly

Near a new LOW record (1 month)

Type : Bearish

Timeframe : Weekly

Technical

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

Technical indicators are strongly bearish, suggesting that the price decline is expected to continue.
Caution: the Central Indicators scanner currently detects an excess:

RSI indicator is oversold : under 30

Type : Neutral

Timeframe : Daily

CCI indicator is oversold : under -100

Type : Neutral

Timeframe : Daily

Williams %R indicator is oversold : under -80

Type : Neutral

Timeframe : Daily

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

Pivot points : price is under support 3

Type : Neutral

Timeframe : Weekly

Price is back under the pivot point

Type : Bearish

Timeframe : Daily

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

The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	17.83	20.04	20.68	20.94	22.25	24.30	25.12
Change (%)	-14.85%	-4.30%	-1.24%	-	+6.26%	+16.05%	+19.96%
Change	-3.11	-0.90	-0.26	-	+1.31	+3.36	+4.18
Level	Major	Major	Major	-	Major	Intermediate	Minor

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	19.98	20.33	20.69	21.04	21.40	21.75	22.11
Camarilla	20.85	20.91	20.98	21.04	21.11	21.17	21.24
Woodie	19.98	20.33	20.69	21.04	21.40	21.75	22.11
Fibonacci	20.33	20.61	20.77	21.04	21.32	21.48	21.75

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	20.10	21.11	21.64	22.65	23.18	24.19	24.72
Camarilla	21.76	21.90	22.04	22.18	22.32	22.46	22.60
Woodie	19.87	20.99	21.41	22.53	22.95	24.07	24.49
Fibonacci	21.11	21.70	22.06	22.65	23.24	23.60	24.19

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	18.53	20.32	21.25	23.04	23.97	25.76	26.69
Camarilla	21.43	21.68	21.93	22.18	22.43	22.68	22.93
Woodie	18.10	20.11	20.82	22.83	23.54	25.55	26.26
Fibonacci	20.32	21.36	22.00	23.04	24.08	24.72	25.76

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):	27.93
MACD (12,26,9):	-0.6000
Directional Movement:	-14.15
AROON (14):	-50.00
DEMA (21):	21.70
Parabolic SAR (0,02-0,02-0,2):	23.11
Elder Ray (13):	-1.04
Super Trend (3,10):	22.96
Zig ZAG (10):	20.93
VORTEX (21):	0.8100
Stochastique (14,3,5):	12.19
TEMA (21):	21.28
Williams %R (14):	-92.23
Chande Momentum Oscillator (20):	-2.28
Repulse (5,40,3):	-3.9100
ROCnROLL:	2
TRIX (15,9):	-0.2200
Courbe Coppock:	12.01

MA7:	21.64
MA20:	22.58
MA50:	23.16
MA100:	23.40
MAexp7:	21.55
MAexp20:	22.38
MAexp50:	22.99
MAexp100:	23.24
Price / MA7:	-3.23%
Price / MA20:	-7.26%
Price / MA50:	-9.59%
Price / MA100:	-10.51%
Price / MAexp7:	-2.83%
Price / MAexp20:	-6.43%
Price / MAexp50:	-8.92%
Price / MAexp100:	-9.90%

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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