(Last Updated September 21, 2020)
Welcome to the news page for Silver (XAGUSD). Below you’ll find our daily market updates. Here’s a technical analysis summary of where things currently stand:
For Silver, we have to zoom out to the 90 day timeframe and beyond to see a clear trend; at that point, a clear uptrend becomes apparent.
Across several time periods between 20 and 200 days, the trend on XAGUSD has remained consistently bullish. Moreover, today we saw the 20 moving average turn bullish.
Below is a chart showing XAGUSD’s price with its moving averages.
At the moment, XAGUSD’s price is up $0.03 (0.09%) from the week prior. Moreover, note that this is a reversal of the price action on the previous week, in which price moved down. Regarding the trend, note that the strongest trend exists on the 20 week timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on XAGUSD. Given that we see an uptrend on the 20 weekly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. Looking further out, the moving averages on the weekly timeframe suggest a bearishness in price, as the 20 and 50 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend. The weekly chart below shows XAGUSD’s price action over the past year.
Lastly, while i provide this technical charting, the fundamentals for gold and silver get stronger each day and will show it in the charts over the next several years….
I include a new chart comparing silver industrial demand versus investment demand….
Also of note is that on a 30 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward.
This is 50% higher than average $16.35/oz in 2q20.
If stock prices decline, gold’s upper hand should accelerate as base metals come under pressure.”
It really could be £200m+ market cap in fairly short order.
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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.
My low-case £45m valuation factors conservative assumptions on: i) resource size of #silver assets ii) chance of hitting iron ore exploration targets iii) silver price ($25).
Gold and silver is trading lower today on the back of a sharp recovery in us dollar as investors weighed whether an accommodative turn from the european central bank later this week could hit the euro, while the pound nursed losses due to brexit uncertainty.”