Silver (XAGUSD) Up $1.3 On 4 Hour Chart, Entered Today Down 0.04%; Pin Bar Pattern Appearing on Chart – CFDTrading

Silver 4 Hour Price Update

Updated October 13, 2020 11:17 AM GMT (07:17 AM EST)

The choppiness in the recent four-hour candle price action of Silver continues; to start the current 4 hour candle, it came in at a price of 25.11 US dollars, down 0.04% ($0.01) since the last 4 hour candle. Silver outperformed all 5 assets in the metals asset class since the last 4 hour candle.

Silver Daily Price Recap

Silver entered today at $25.11, down 0.04% ($0.01) from the previous day. Silver outperformed all 5 assets in the metals asset class since the previous day. Here is a daily price chart of Silver.

XAGUSD

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. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. It should be noted, though, that a trend in the opposite direction, going up, exists on the 14 day timeframe. So if you expect the primary trend to resume, the counter trend may be providing an opportunity to sell rallies. Or to view things another way, note that out of the past 30 days Silver’s price has gone down 18 them. As for those who trade off of candlesticks, we should note that we’re seeing pin bar pattern appearing here.

Overheard on Twitter

Over on Twitter, here were the top tweets about Silver:

  • From VincentCapital:

    @CarlCapolingua $KCN has 90 million ounces of high grade silver at their fully permitted construction ready Neuva Esperanza Chile project On-top of the 30 million ounces still left in Thailand. It’s going to go bezerk with a rising silver price.

  • From Itsjoeyduhh:

    So $silver price reset is tomorrow. Although I’m doubtful a $60 minimum price will be set, that would be so damn funny if it did. It would confirm a lot of our suspicions with “the great reset”.

  • From SilverChartist:

    Note how $SILJ peaked at $19.32 in 2016 when #Silver was just $21! The $silver price is now ~40% higher than the 2016 peak, but $SILJ is roughly 20% lower!

For a longer news piece related to XAGUSD that’s been generating discussion, check out:

Gold price falls after 3 days; silver rates at Rs 62,500

Gold, Silver prices today: Gold price eased today overseas amid a slight rebound in dollar, although losses were capped as investors clung to renewed hopes of coronavirus relief package in the US Gold, Silver prices in India on October 13: Gold price fell on Tuesday after rising consecutively for three sessions following weak global cues….Gold price eased today overseas amid a slight rebound in dollar, although losses were capped as investors clung to renewed hopes of coronavirus relief package in the US.

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