Silver 4 Hour Price Update

Updated August 21, 2020 07:20 AM GMT (03:20 AM EST)

The back and forth price flow continues for Silver, which started the current 4 hour candle off at 27.362 US dollars, up 2.08% ($0.56) from the previous 4 hours. Silver outperformed all 5 assets in the metals asset class since the previous 4 hours.

Silver Daily Price Recap

The back and forth price flow continues for Silver, which started today off at 27.362 US dollars, up 2.08% ($0.56) from the day prior. Silver outperformed all 5 assets in the metals asset class since the day prior. 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 up. Or to view things another way, note that out of the past 30 days Silver’s price has gone up 20 them. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!

Overheard on Twitter

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

• From StuOnGold:
  

  We forecast the #Silver price will climb toward $50 by the start of 2021, $80 by the start of 2023 & climb above $100 by Jan. 2024 en route to a new inflation-adjusted high above $169 by the start of 2026.
  This is based on an analysis of past silver bull markets. ~ Jason Hamlin

• From KeepersJeremy:
  

  @Caseforsilver Looks like silver is building a nice pennant at the top of a long pole. There is a massive amount of September long calls for delivery. If most of them call for delivery it will be an impressive up move in silver price.

• From AfzalValli:
  

  #UFO Another thats done 400% on nothing £11m MCAP) just on silver price rise so why can’t #WSBN do the same from now to drilling results ONLY £1.5m MCAP

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

Should you be buying dips in gold price, silver price? | Kitco News

(Kitco News) The U.S. dollar rally has been stealing the attention from gold and silver, making the recovery in precious metals prices more difficult, according to analysts….  After the Fed minutes were released, the market continued to be concerned with what could potentially be introduced at the upcoming September Fed meeting.  From a trade perspective, the question is whether the markets can trust the current rise in the U.S. dollar?  Weston looked at the daily charts and next week’s Jackson Hole Symposium for answers.  “One point I will make here is on the daily charts, we’ve seen some key day reversal play out in USDJPY, AUDUSD, with EURUSD printing a lower high and a lower low,” he said on Thursday….“If another stimulus package comes out, it will weaken the dollar….A lot of people are looking for stimulus and it didn’t come yet, which is also why we are seeing a short-term dollar rally.” The fundamentals for precious metals remain bullish.

The post Silver (XAGUSD) Up $0.56 On 4 Hour Chart, Outperforms All metals; in an Uptrend Over Past 30 Days appeared first on CFDTrading.