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 04/13/2024 (GMT)

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Timeframe : Daily
- Analysis generated on
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Summary of the analysis

Trends

Short term: Strongly bullish

Underlying: Strongly bullish

Technical indicators

72%

11%

17%

My opinion

Bullish above 27.59 USD

My targets

28.53 USD (+2.37%)

29.77 USD (+6.82%)

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 - USD as long as the price remains well above 27.59 USD. The buyers' bullish objective is set at 28.53 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 29.77 USD. If there is any crossing, the next objective would be the resistance located at 34.99 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

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 27.87 USD. The price is lower by -2.14% since the last closing with the lowest point at 27.86 USD and the highest point at 29.80 USD. The deviation from the price is +0.04% for the low point and -6.48% for the high point.

27.86

29.80

27.87

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

Bearish opening

Type : Bearish

Timeframe : Openning

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

The Central Records scanner, which identifies the highest / lowest, has detected several elements:

Near a new HIGH record (5 years)

Type : Bullish

Timeframe : Weekly

New HIGH record (1 year)

Type : Bullish

Timeframe : Weekly

New HIGH record (1st january)

Type : Bullish

Timeframe : Weekly

New HIGH record (1 month)

Type : Bullish

Timeframe : Weekly

Technical

Technical analysis of SILVER - USD in Daily shows a strongly overall bullish trend. 92.86% of the signals given by moving averages are bullish. The overall trend is supported by the strong bullish 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 bullish, suggesting that the price increase should continue.
Caution: the Central Indicators scanner currently detects an excess:

CCI indicator is overbought : over 100

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 : Daily

The analysis of the price chart with Central Patterns scanners does not return any result.

Central Candlesticks, the scanner specialised in Japanese candlesticks, detects a bearish signal that could support the hypothesis of a small drop in the very short term:

Black gravestone / inverted hammer

Type : Bearish

Timeframe : Daily

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	25.71	26.20	27.59	27.87	28.53	29.77	34.99
Change (%)	-7.75%	-5.99%	-1.00%	-	+2.37%	+6.82%	+25.55%
Change	-2.16	-1.67	-0.28	-	+0.66	+1.90	+7.12
Level	Minor	Major	Major	-	Major	Major	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	25.28	26.57	27.22	28.51	29.16	30.45	31.10
Camarilla	27.34	27.51	27.69	27.87	28.05	28.23	28.40
Woodie	24.96	26.41	26.90	28.35	28.84	30.29	30.78
Fibonacci	26.57	27.31	27.77	28.51	29.25	29.71	30.45

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	23.61	25.24	26.55	28.18	29.49	31.12	32.43
Camarilla	27.06	27.33	27.60	27.87	28.14	28.41	28.68
Woodie	23.46	25.16	26.40	28.10	29.34	31.04	32.28
Fibonacci	25.24	26.36	27.05	28.18	29.30	29.99	31.12

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	19.77	21.14	23.05	24.42	26.33	27.70	29.61
Camarilla	24.07	24.37	24.67	24.97	25.27	25.57	25.87
Woodie	20.05	21.28	23.33	24.56	26.61	27.84	29.89
Fibonacci	21.14	22.39	23.16	24.42	25.67	26.44	27.70

Numerical data

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

Technical indicators

Moving averages

RSI (14):	67.73
MACD (12,26,9):	1.1000
Directional Movement:	30.43
AROON (14):	78.57
DEMA (21):	27.75
Parabolic SAR (0,02-0,02-0,2):	26.34
Elder Ray (13):	1.84
Super Trend (3,10):	26.08
Zig ZAG (10):	27.87
VORTEX (21):	1.2200
Stochastique (14,3,5):	83.02
TEMA (21):	28.31
Williams %R (14):	-35.22
Chande Momentum Oscillator (20):	3.42
Repulse (5,40,3):	-2.6200
ROCnROLL:	1
TRIX (15,9):	0.5300
Courbe Coppock:	23.19

MA7:	27.80
MA20:	26.09
MA50:	24.34
MA100:	23.95
MAexp7:	27.65
MAexp20:	26.39
MAexp50:	25.02
MAexp100:	24.27
Price / MA7:	+0.25%
Price / MA20:	+6.82%
Price / MA50:	+14.50%
Price / MA100:	+16.37%
Price / MAexp7:	+0.80%
Price / MAexp20:	+5.61%
Price / MAexp50:	+11.39%
Price / MAexp100:	+14.83%

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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