SILVER - USD
SILVER - USD
30.42 USD (-0.49%)
01/21/2025 - 01:46 Open Real time data - Gold & Silver Spot
Open: 30.57
Change: -0.15
Volume: 4,494
Low: 30.19
High: 30.61
High / Low range: 0.42
Type: Commodities
Ticker: XAGUSD
ISIN:

SILVER - USD - Weekly - Technical analysis published on 08/05/2024 (GMT)

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  • 08/05/2024 - 00:07
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  • Timeframe : Weekly
  • - Analysis generated on 08/05/2024 - 00:07
  • Status : TARGET REACHED

Summary of the analysis

Trends
Short term: Bullish
Underlying: Strongly bullish
Technical indicators
17%
33%
50%
My opinion
Bullish above 26.20 USD
My targets
29.77 USD (+4.75%)
32.06 USD (+12.81%)
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 26.20 USD. The buyers' bullish objective is set at 29.77 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 32.06 USD. If there is any crossing, the next objective would be the resistance located at 34.99 USD. Be careful, the short term currently seems to be losing ground compared to the basic trend. Longer time units should be analysed to identify possible overbought items that could be a sign of a possible short-term correction.

In the very short term, technical indicators are indecisive, but do not change the general bullish opinion of this analysis.
Force
0
10
4.5

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 Edd8011. Take part yourself by sharing additional analysis on another time unit:
15 min. 1H Daily

Additional analysis

Quotes

The SILVER - USD price is 28.42 USD. The price registered an increase of +1.72% over 5 days and has been traded over the last 5 days between 27.94 USD and 29.22 USD. This implies that the 5 day price is +1.72% from its lowest point and -2.74% from its highest point.

27.94
29.22
28.42

A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.

Central Gaps

Bullish opening

Type : Bullish

Timeframe : Openning



A study of price movements over other periods shows the following variations:
Created with Raphaël 2.3.0-22.5022.54567.590January 1st5 years3 years1 year6 months1 month5 daysToday
The study of the highest / lowest by the Central Records scanner shows the following result:

Central Records

Near a new LOW record (1 month)

Type : Bearish

Timeframe : Weekly



Technical


Technical analysis of SILVER - USD in Weekly shows a strongly overall bullish trend. The signals given by moving averages are 85.71% bullish. This strongly bullish trend seems to be running out of steam given the signals being given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.

In fact, of the 18 technical indicators analysed by Central Analyzer, 3 are bullish, 9 are neutral and 6 are bearish. Central Indicators, the detector scanner for these technical indicators recently detected a signal:

Central Indicators

Momentum indicator is back under 0

Type : Bearish

Timeframe : Weekly



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
S3
S2
S1
R1
R2
R3
Price


S3S2S1PriceR1R2R3
ProTrendLines 21.92 24.31 26.20 28.42 28.59 29.77 32.06
Change (%) -22.87% -14.46% -7.81% - +0.60% +4.75% +12.81%
Change -6.50 -4.11 -2.22 - +0.17 +1.35 +3.64
Level Major Minor Major - Major Intermediate Major



To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:

Daily
Pivot points S3 S2 S1 PP R1 R2 R3
Standard28.2328.3428.4228.5328.6128.7228.80
Camarilla28.4628.4828.4928.5128.5328.5528.56
Woodie28.2328.3328.4228.5228.6128.7128.80
Fibonacci28.3428.4128.4528.5328.6028.6428.72


Weekly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard25.5826.4527.4928.3629.4030.2731.31
Camarilla28.0228.1928.3728.5428.7228.8929.07
Woodie25.6826.4927.5928.4029.5030.3131.41
Fibonacci26.4527.1827.6328.3629.0929.5430.27


Monthly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard22.5524.9326.9929.3731.4333.8135.87
Camarilla27.8328.2428.6429.0529.4629.8630.27
Woodie22.3924.8526.8329.2931.2733.7335.71
Fibonacci24.9326.6327.6729.3731.0732.1133.81

Numerical data


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

Technical indicators
Created with Raphaël 2.3.0Neutral9
Moving averages
Created with Raphaël 2.3.0Buy24

RSI (14): 53.40
MACD (12,26,9): 1.0500
Directional Movement: 5.80
AROON (14): 21.43
DEMA (21): 29.91
Parabolic SAR (0,02-0,02-0,2): 31.74
Elder Ray (13): -0.36
Super Trend (3,10): 25.60
Zig ZAG (10): 28.54
VORTEX (21): 1.1100
Stochastique (14,3,5): 34.50
TEMA (21): 29.97
Williams %R (14): -65.19
Chande Momentum Oscillator (20): -2.95
Repulse (5,40,3): -2.5900
ROCnROLL: -1
TRIX (15,9): 0.7900
Courbe Coppock: 12.02
MA7: 28.46
MA20: 29.33
MA50: 29.70
MA100: 28.74
MAexp7: 29.00
MAexp20: 28.37
MAexp50: 26.46
MAexp100: 24.96
Price / MA7: -0.14%
Price / MA20: -3.10%
Price / MA50: -4.31%
Price / MA100: -1.11%
Price / MAexp7: -2.00%
Price / MAexp20: +0.18%
Price / MAexp50: +7.41%
Price / MAexp100: +13.86%

Quotes : 08/05/2024 - 00:07 - 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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