Silver Daily Price Recap
Silver closed yesterday up 0.02% ($0); this denotes the 2nd day in a row it has gone up. On a relative basis, Silver was the worst performer out of all 5 of the assets in the metals asset class today. Let’s take a look at the 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 30 day horizon; over that time period, price has been moving down. For another vantage point, consider that Silver’s price has gone up 5 of the previous 10 trading days. Also, candlestick traders! Note we see pin bar pattern appearing here as well.
Overheard on Twitter
Behold! Here are the top tweets related to Silver:
- From swissfrankm:
@RemmeltL @watcher_pm @LloydBr01296340 @badcharts1 The legal issue in Mexico is hanging over it. Between eventually resolution and projected higher silver price, the shorts will eventually have to cover and this will return and potentially be a higher quality play then.
- From PUBGKAB28843275:
@TechnicalGuruji @YouTubeIndia @OnePlus_IN #GuessTheSpecs
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48MP (w/OIS) +16+5+2MP Main
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- From groverbushwood:
@Caseforsilver Mexican tax dispute will keep it locked down. Silver price won’t matter until that is resolved.
For a longer news piece related to XAGUSD that’s been generating discussion, check out:
Gold, Silver prices today: Overseas, gold price fell below the key $1,900/ounce psychological level amid faded hopes of coronavirus relief package in the US Gold, Silver prices in India on October 15: Gold price in India fell on Thursday, although trades above Rs 50K mark, tracking weak cues from global markets….On the MCX, gold prices are expected to trade lower in today’s session.” On gold’s technical outlook, he added, “As for today traders can go for sell in gold at Rs 50,600 levels with the stop loss of Rs 51100 levels for the target of 49500 levels.