Silver Daily Price Recap
The choppiness in the recent daily price action of Silver continues; to start today, it came in at a price of 24.22 US dollars, up 0.14% ($0.03) since the day prior. 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.
Silver Technical Analysis
The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 22 out of the past 30 days. 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 goldseek:
On the daily chart the silver price still looks momentous.. staying above Tuesday’s washout lows, I would bet it will hold but we know how the paper casino plays silver traders and can do quick moves to shake out more weak hands.
- From MacleodFinance:
Putting aside technical analysts expectations of a significant reaction in gold and silver, price performance feels bullish. If technical fears were valid, we would not see prices so stable at all-time highs for gold, and following a sharp rise for silver.
- From FerroTV:
“With more downside expected in US real interest rates, we are once again reiterating our long gold recommendation from March and are raising our 12-month gold and silver price forecasts to $2300/toz and $30/toz respectively from $2000/toz and $22/toz”Goldman Sachs
For a longer news piece related to XAGUSD that’s been generating discussion, check out:
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