XAG/USD Technical Analysis: How Silver Is Analysed on This Site
The full method behind the silver analysis on this site — daily, 4-hour and 1-hour timeframes, pivots, RSI(14), EMA 20/50/200 and ATR(14) — with the Friday 6 November 2026 session as the worked example.
The silver analysis on this site uses the same method as the gold analysis — daily and weekly pivots, RSI(14) on three timeframes, EMA 20/50/200 and ATR(14) — but silver is a different market, and the same numbers mean different things in it. Silver moves roughly twice as far as gold in percentage terms on a normal day, so its indicators reach extremes faster, its levels are tested more often, and its trend readings change more quickly. This guide explains the method as applied to silver, using the Friday 6 November 2026 session as the worked example.
The four ingredients
- Daily and weekly pivots (Classic method primary; Fibonacci and Camarilla kept strictly separate). The pivots in force for a session are calculated from the previous completed session's OHLC, and are labelled by the session they were calculated from.
- RSI(14) by Wilder, computed separately from the 1-hour, 4-hour and daily closes — each from its own verified series of closes, never mixed.
- EMA 20, EMA 50 and EMA 200 on daily closes: the short, medium and long trend. Price above an EMA is above that trend; price below it is below it.
- ATR(14) on daily closes: the size of a normal day's move. For silver this is about 4.1% of its price, against about 2.1% for gold — the single most important difference between the two metals.
- Session high and low, always named with their provider and price basis, because the BID candle low and the MID quote low are different numbers.
Timeframes: daily sets the bias, 4-hour the structure, 1-hour the detail
The daily timeframe sets the bias: where the close sits against the daily Pivot, the daily RSI and the three EMAs. The 4-hour timeframe shows the structure: a sequence of higher highs and higher lows is bullish structure, lower highs and lower lows is bearish, a mix is mixed. The 1-hour timeframe shows the latest moves and the level tests. Because silver moves faster, its 1-hour RSI can swing 5–10 points in an hour on a normal day — treat single-hour moves as noise unless the candle also breaks a level.
Worked example: Friday 6 November 2026
Friday's session (Finnhub/OANDA, MID): open $51.7425, high $52.3755, low $51.1945, close $51.9445 — up 0.30% on Thursday. The close reclaimed the new Saturday Pivot of $51.84 by just $0.10 — a marginal reclaim, not a convincing one. The session high of $52.3755 stayed below the old R3 of $52.94 (calculated from Tuesday 3 November OHLC), the level silver had traded above on Thursday before failing on the close.
| Indicator | Value | Reading |
|---|---|---|
| Daily RSI(14) | 38.07 | Below 40 — weak, approaching oversold, not at 30 |
| EMA 20 (daily) | $54.35 | Close below — short trend weak |
| EMA 50 (daily) | $58.21 | Close below — medium trend weak |
| EMA 200 (daily) | $65.83 | Close below — long trend weak |
| ATR(14) (daily) | $2.14 | A normal day moves about $2.14 — about 4.1% of price |
| RSI(14) 1-hour | 49.00 | Below 50 — final 1-hour candle bearish |
| RSI(14) 4-hour | 51.20 | Just above 50 — medium-term momentum flat |
| 4-hour structure | Mixed | Lower high + higher low on the 21:00–01:00 candle |
Reading the levels together
- Silver's daily trend was weaker than gold's on Friday: daily RSI 38.07 against gold's 48.30, and the close below all three EMAs while gold closed above its EMA 20. A $0.10 reclaim of the Pivot does not change that.
- The verdict at the 03:30 daily report was that silver's bearish thesis was weakening less clearly than gold's — not invalidated and not re-strengthened — so every silver allocation line was kept unchanged.
- Silver's RSI near 40 is more common than in gold because of the higher volatility. It still does not guarantee a bounce, and a daily RSI near 30 in silver arrives more often than in gold.
- In choppy, range-bound sessions silver's 1-hour RSI crosses 50 repeatedly. Wait for the 4-hour reading and the price structure before drawing a conclusion.
What the analysis does not do
- It gives no buy or sell signal. Scenarios and their entry, invalidation and target levels are reference levels only, and they need price-action and timeframe confirmation.
- Its conviction percentages are technical conviction and decision preference — not statistically verified probabilities of profit or loss.
- A level touch is not a break, and a spot move is not a candle close. Only verified completed candles confirm anything.
- When data is missing — a 1-hour or 4-hour candle, an RSI value, volume — confidence is lowered and the physical-holdings allocation is kept, never increased in favour of selling.
Data sources: 1-hour and 4-hour candles from Dukascopy (BID); spot and daily OHLC from Finnhub/OANDA (MID). Every value on this site carries its timestamp in PKT, its provider and its price basis, and a value that cannot be verified is shown as unavailable — never estimated from a spot snapshot.