Silver (XAGUSD) Up $0.12 On 4 Hour Chart, Moves Up For the 2nd Consecutive Day; Crosses 50 Day Moving Average

Silver Daily Price Recap

Silver came into today up 0.49% ($0.12) from the open of yesterday, marking the 2nd consecutive day an increase has occurred. Relative to other instruments in the metals asset class, Silver ranked 3rd since yesterday in terms of percentage price change. The daily price chart of Silver below illustrates.

XAGUSD

Silver Technical Analysis

Moving average crossovers are always interesting, so let’s start there: Silver crossed above its 50 day moving average yesterday. Also of note is that on a 90 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 up 7 out of the past 10 days. As for those who trade off of candlesticks, we should note that we’re seeing pin bar pattern appearing here.

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 DonDurrett:

    @johnlee25893955 @AmirGold2020 I would rather see 200 M&I and the silver price at $50. At that point, I can tell you your share price. I’ll give you a hint, it will be north of C$1.5. Good luck with drilling in 2021.

  • From urbandwellerMTL:

    @thesloopjonb @TheLastDegree I second that. My thesis for buying Aurcana was 1- upgrade because of production in 2021, 2-upgrade because of higher silver price, 3-upgrade for potential listing on NYSE and finally 4-M&A.

  • From silverquote:

    Hong Kong #Silver #Price Morning Session Open: $24.67 USD per oz 2020-11-16 08:30:18 HKT