Silver 4 Hour Price Update
Updated September 23, 2020 07:18 AM GMT (03:18 AM EST)
Silver came into the current 4 hour candle down 1.27% ($0.32) from the open of the previous 4 hours, marking the 5th candle in a row a decrease has occurred. Out of the 5 instruments in the metals asset class, Silver ended up ranking 3rd for the four-hour candle in terms of price change relative to the previous 4 hours.
Silver Daily Price Recap
Silver is down 1.27% ($0.32) since the previous day, marking the 5th straight day it has gone down. Relative to other instruments in the metals asset class, Silver ranked 3rd since the previous day in terms of percentage price change. Here is a daily price chart of Silver.
Silver Technical Analysis
The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. For another vantage point, consider that Silver’s price has gone down 17 of the previous 30 trading days.
Overheard on Twitter
Over on Twitter, here were the top tweets about Silver:
- From StarlingHunter1:
@badcharts1 Informative as always, Patrick. Just want to make sure Im reading it correctly. Both the black and red lines are labeled “Silver Volatility” but I think the red is actually silver price and only the black one is volatility? But maybe I’m missing something?
- From Paisan26849860:
@HamEggsnSam Wanna hear your thoughts on this:We know, that JPM has manipulated the silver price n accumulated it for years.Do you think they have enough power/influence in the world to introduce silver as “The new gold standard” ?
- From robbo0411:
@DavidFi_ Give it time for the market to react to the increase in profits which will inevitably flow from the increased silver price. First majestic levered most to silver price in the sector, market has this one wrong.
In terms of news links for Silver here’s one to try:
IMPORTANT SILVER & GOLD MARKET UPDATE: The Next Few Weeks Likely Determine The Price Trend – SRSrocco Report
That was based on the MINIMUM COST OF PRODUCTION, shown in the TECHNICAL CHARTS: So, the charts also represent what is taking place fundamentally in the market….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….That was based on the MINIMUM COST OF PRODUCTION, shown in the TECHNICAL CHARTS:” Also the strong dollar on the USDX ?
The post Silver (XAGUSD) Down $0.32 Over Past 4 Hours, And A Story About Usdx; Entered Today Down 1.27% appeared first on CFDTrading.