Silver Daily Price Recap
Silver came into today down 0.77% ($0.21) from the open of yesterday, marking the 2nd consecutive day it has gone down. Those trading within the metals asset class should know that Silver was the worst performer in the class today. Here is a daily price chart of Silver.
Silver Technical Analysis
The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Price action traders in particular will want to note that the 30 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. Or to view things another way, note that out of the past 14 days Silver’s price has gone down 8 them. Also, candlestick traders! Note we see pin bar pattern appearing here as well.
Overheard on Twitter
Over on Twitter, here were the top tweets about Silver:
- From AIMInvestor4:
@DonaldPond6 @DirtyJohn85 I couldn’t agree more Donald #PXC is an absolute gem, funded this year, cash flow next & only 1% of the Empire mine yet explored. It really could be £200m+ market cap in fairly short order. Sp only low a few months ago due to Silver price, COVID & the fact it was unknown…
- From LaurenceRHunt:
@tiefighter19921 @pizdets17 @dougcan Probably all of us engage in some level of trading vs investing. I bought First Majestic and Endeavour because they are solid operators who will see big gains based on lower margins & a rising silver price. However, I won’t sell if they deliver on the performance side.
- From JFIAustralia:
@j0nathandavis @chayse1984 All these pieces of shit are degrading US$ included. Look at Gold price 1971 and now. Look at Silver price 1971 and now. The US$ may make small gains against other fiats but its a ride of higher and lower boats. The tide is falling dear friend.
In terms of news links for Silver here’s one to try:
Industrial metals are dependent on more fiscal stimulus and a global economic rebound, yet increasingly vulnerable to normal stock-market mean reversion,” wrote McGlone in the latest monthly commodity update. For silver to outperform gold on a continuous basis for the rest of the year, the market will have to see a combination of rising bond yields, a peak dollar, declining stock-market volatility and continued global economic expansion….“If stock prices decline, gold’s upper hand should accelerate as base metals come under pressure.” Moreover, the gold’s bull rally is just beginning, noted the report.