SILVER - USD

- USD (-)

- Real time data - Gold & Silver Spot

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Type:	Commodities
Ticker:	XAGUSD
ISIN:

SILVER - USD - 1H - Technical analysis published on 12/03/2024 (GMT)

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Timeframe : 1H
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Short term: Bullish

Underlying: Strongly bullish

Technical indicators

67%

28%

My opinion

Bullish above 30.52 USD

My targets

30.90 USD (+0.49%)

31.31 USD (+1.82%)

My analysis

The basic bullish trend is very strong on SILVER - USD but the short term shows some signs of running out of steam. However, a purchase could be considered as long as the price remains above 30.52 USD. Crossing the first resistance at 30.90 USD would be a sign of a potential new surge in the price. Buyers would then use the next resistance located at 31.31 USD as an objective. Crossing it would then enable buyers to target 31.48 USD. Caution, a return to below 30.52 USD would be a sign of a consolidation phase in the short-term basic trend. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.

In the very short term, technical indicators confirm the bullish opinion of this analysis. 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 Mark Thomer. Take part yourself by sharing additional analysis on another time unit:

Additional analysis

Quotes

The SILVER - USD rating is 30.75 USD. The price has increased by +0.49% since the last closing and was traded between 30.46 USD and 31.08 USD over the period. The price is currently at +0.95% from its lowest and -1.06% from its highest.

30.46

31.08

30.75

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 LOW record (1 month)

Type : Bearish

Timeframe : Weekly

Technical

A technical analysis in 1H of this SILVER - USD chart shows a strongly bullish trend. 85.71% of the signals given by moving averages are bullish. The slightly bullish signals given by the short-term moving averages show a weakening of the global trend. There is no crossing of moving average by the price or crossing of moving averages between themselves.

In fact, 12 technical indicators on 18 studied are currently positioned bullish. No additional result has been identified by Central Indicators, the scanner specialised in technical indicators.

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

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

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	30.38	30.52	30.68	30.75	30.90	31.31	31.48
Change (%)	-1.20%	-0.75%	-0.23%	-	+0.49%	+1.82%	+2.37%
Change	-0.37	-0.23	-0.07	-	+0.15	+0.56	+0.73
Level	Minor	Minor	Intermediate	-	Intermediate	Minor	Minor

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
Standard	29.58	29.81	30.21	30.44	30.84	31.07	31.47
Camarilla	30.43	30.49	30.54	30.60	30.66	30.72	30.77
Woodie	29.66	29.85	30.29	30.48	30.92	31.11	31.55
Fibonacci	29.81	30.05	30.20	30.44	30.68	30.83	31.07

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	27.80	28.72	29.65	30.57	31.50	32.42	33.35
Camarilla	30.08	30.25	30.42	30.59	30.76	30.93	31.10
Woodie	27.82	28.72	29.67	30.57	31.52	32.42	33.37
Fibonacci	28.72	29.42	29.86	30.57	31.27	31.71	32.42

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	25.62	27.62	29.11	31.11	32.60	34.60	36.09
Camarilla	29.63	29.95	30.27	30.59	30.91	31.23	31.55
Woodie	25.36	27.49	28.85	30.98	32.34	34.47	35.83
Fibonacci	27.62	28.96	29.78	31.11	32.45	33.27	34.60

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):	65.75
MACD (12,26,9):	0.1400
Directional Movement:	18.53
AROON (14):	85.71
DEMA (21):	30.94
Parabolic SAR (0,02-0,02-0,2):	30.69
Elder Ray (13):	0.18
Super Trend (3,10):	30.58
Zig ZAG (10):	31.00
VORTEX (21):	1.2300
Stochastique (14,3,5):	80.59
TEMA (21):	31.02
Williams %R (14):	-11.29
Chande Momentum Oscillator (20):	0.48
Repulse (5,40,3):	0.3400
ROCnROLL:	1
TRIX (15,9):	0.0600
Courbe Coppock:	2.83

MA7:	30.43
MA20:	30.77
MA50:	31.73
MA100:	30.37
MAexp7:	30.92
MAexp20:	30.76
MAexp50:	30.59
MAexp100:	30.53
Price / MA7:	+1.05%
Price / MA20:	-0.06%
Price / MA50:	-3.09%
Price / MA100:	+1.25%
Price / MAexp7:	-0.55%
Price / MAexp20:	-0.03%
Price / MAexp50:	+0.52%
Price / MAexp100:	+0.72%

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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