SILVER - USD

- USD (-)

- Real time data - Gold & Silver Spot

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Change:	-
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Type:	Commodities
Ticker:	XAGUSD
ISIN:

SILVER - USD - Daily - Technical analysis published on 11/22/2024 (GMT)

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Timeframe : Daily
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Short term: Strongly bearish

Underlying: Slightly bullish

Technical indicators

56%

11%

33%

My opinion

Bearish under 32.06 USD

My targets

30.24 USD (-3.52%)

29.77 USD (-5.01%)

My analysis

The strong short-term decline in SILVER - USD calls into question the currently slightly bullish basic trend. A trend reversal is likely. As long as the price remains below the resistance located at 32.06 USD, one could consider taking advantage of the short-term movement. The first bearish objective is located at 30.24 USD. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 29.77 USD as an objective. Crossing it would then enable sellers to target 28.81 USD. Be careful, a return to above 32.06 USD could jeopardize the reversal.

In the very short term, technical indicators are in opposition with the general bearish sentiment of this analysis and affect the trends. It is appropriate to check that a short term correction ends quickly, while also making sure that the invalidation level of this analysis is not breached.

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 price is 31.34 USD. On the day, this instrument gained +1.95% and was between 30.74 USD and 31.40 USD. This implies that the price is at +1.95% from its lowest and at -0.19% from its highest.

30.74

31.40

31.34

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

Bullish opening

Type : Bullish

Timeframe : Openning

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

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

Near a new LOW record (1 month)

Type : Bearish

Timeframe : Weekly

Technical

A technical analysis in Daily of this SILVER - USD chart shows a slightly bullish trend. 53.57% of the signals given by moving averages are bullish. Caution: the strong bearish signals currently given by short-term moving averages indicate that a trend reversal may be taking place. The Central Indicators scanner detects bullish and bearish signals on moving averages that could impact this trend:

Moving Average bearish crossovers : MA20 & MA50

Type : Bearish

Timeframe : Daily

Bullish price crossover with adaptative moving average 50

Type : Bullish

Timeframe : Daily

In fact, 10 technical indicators on 18 studied are currently positioned bullish. But beware of excesses. The Central Indicators scanner currently detects this:

MACD indicator: bullish divergence

Type : Bullish

Timeframe : Daily

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

Pivot points : price is over resistance 1

Type : Neutral

Timeframe : Daily

Pivot points : price is over resistance 1

Type : Neutral

Timeframe : Weekly

Parabolic SAR indicator bullish reversal

Type : Bullish

Timeframe : Daily

Ichimoku : price is over the cloud

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

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

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

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	26.20	28.81	29.77	31.34	32.06	33.67	34.99
Change (%)	-16.40%	-8.07%	-5.01%	-	+2.30%	+7.43%	+11.65%
Change	-5.14	-2.53	-1.57	-	+0.72	+2.33	+3.65
Level	Major	Major	Intermediate	-	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	29.81	30.23	30.48	30.90	31.15	31.57	31.82
Camarilla	30.56	30.62	30.68	30.74	30.80	30.86	30.92
Woodie	29.74	30.19	30.41	30.86	31.08	31.53	31.75
Fibonacci	30.23	30.48	30.64	30.90	31.15	31.31	31.57

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	27.54	28.60	29.43	30.49	31.32	32.38	33.21
Camarilla	29.73	29.90	30.08	30.25	30.42	30.60	30.77
Woodie	27.42	28.54	29.31	30.43	31.20	32.32	33.09
Fibonacci	28.60	29.33	29.77	30.49	31.22	31.66	32.38

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	25.49	27.80	30.24	32.55	34.99	37.30	39.74
Camarilla	31.36	31.80	32.24	32.67	33.11	33.54	33.98
Woodie	25.55	27.83	30.30	32.58	35.05	37.33	39.80
Fibonacci	27.80	29.62	30.74	32.55	34.37	35.49	37.30

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):	48.69
MACD (12,26,9):	-0.3400
Directional Movement:	-5.50
AROON (14):	-50.00
DEMA (21):	31.06
Parabolic SAR (0,02-0,02-0,2):	29.67
Elder Ray (13):	-0.14
Super Trend (3,10):	33.17
Zig ZAG (10):	31.35
VORTEX (21):	0.8700
Stochastique (14,3,5):	40.28
TEMA (21):	30.55
Williams %R (14):	-48.31
Chande Momentum Oscillator (20):	0.17
Repulse (5,40,3):	1.2400
ROCnROLL:	1
TRIX (15,9):	-0.1200
Courbe Coppock:	11.75

MA7:	30.86
MA20:	31.72
MA50:	31.80
MA100:	30.40
MAexp7:	31.01
MAexp20:	31.42
MAexp50:	31.37
MAexp100:	30.59
Price / MA7:	+1.56%
Price / MA20:	-1.20%
Price / MA50:	-1.45%
Price / MA100:	+3.09%
Price / MAexp7:	+1.06%
Price / MAexp20:	-0.25%
Price / MAexp50:	-0.10%
Price / MAexp100:	+2.45%

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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