Silver (XAGUSD) Up $0.23 Over Past 4 Hours, And A Link About Each Other; Pin Bar Pattern Appearing on Chart

Silver Daily Price Recap

Silver came into today down 0.04% ($0.01) from the open of the day prior, marking the 4th consecutive day a decrease has occurred. Relative to other instruments in the metals asset class, Silver ranked 3rd since the day prior in terms of percentage price change. The daily price chart of Silver below illustrates.

XAGUSD

Silver Technical Analysis

Volatility for Silver has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. Also of note is that on a 14 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. For additional context, note that price has gone down 8 out of the past 14 days. As for those who trade off of candlesticks, we should note that we’re seeing pin bar pattern appearing here.

Overheard on Twitter

Over on Twitter, here were the top tweets about Silver:

  • From SRSroccoReport:

    Oil Industry vs Silver Mining Industry:With the Oil Price at $37, there aren’t ANY Oil Companies making Money.With the Silver Price at $23 or even $20, ALL Silver Mining Companies making money.NEW DYNAMIC taking place as COSTS will remain low while metal prices move higher.

  • From NeapolisMG:

    @chaosprime I was hoping to skimp with the silver price but am willing to go as high as the electrum price, but gold is pretty pricey and the iron price can be lethal.

  • From silverquote:

    Hong Kong #Silver #Price Morning Session Open: $24.43 USD per oz 2020-10-26 08:30:18 HKT

As for a news story related to Silver getting some buzz:

10-27-2020 – $100 Silver Price: When and Why We Will See It

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Silver Price: When and Why We Will See It   Gold and silver have always held a
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