Silver (XAGUSD) Down 1.57%, Price Base in Formation Over Past 30 Days; Pin Bar Pattern Appearing on Chart

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 15.184 US dollars, down 1.57% ($0.242) since yesterday. Relative to other instruments in the metals asset class, Silver ranked 4th since yesterday in terms of percentage price change. Below is a daily price chart of Silver.

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 14 day horizon; over that time period, price has been moving up. 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. For additional context, note that price has gone up 7 out of the past 14 days. Also, candlestick traders! Note we see pin bar pattern appearing here as well.

Overheard on Twitter

For laughs, fights, or genuinely useful information, let’s see what the most popular tweets pertaining to Silver for the past day were:

  • From CDFrazier87:

    Squatting to put my pots and pans in the cupboard, I’m reminded that I spent the better part of the past 8 years on Georgetown’s Student Health Insurance Plan. I’m 32 years old, and I have worse knees than my father. “A platinum plan for a silver price,” my butt!

  • From DreamRise3:

    April 17 2020. Dream. I was in the store, it looked like Walmart. There was new delivery of silver, like coins, bars, even a cutlery… People pulled themselves out, fought to get silver. Just like “toilet paper brawl”. I don’t know what the silver price was.

  • From Buy100ozSilver:

    What happens in a free market if zinc lead and to some extent copper prices stay lower for longer. Mine supply will reduce and silver price will eventually go up without considering its precious metal component.