Silver 4 Hour Price Update
Updated October 01, 2020 11:17 AM GMT (07:17 AM EST)
23.21 was the closing price of the four-hour candle for Silver, resulting in the current 4 hour candle being one in which price moved down 3.99% ($0.96) from the previous 4 hours. On a relative basis, Silver was the worst performer out of all 5 of the assets in the metals asset class the current 4 hour candle.
Silver Daily Price Recap
Silver entered today at $23.21, down 3.99% ($0.96) from the day prior. Those trading within the metals asset class should know that Silver was the worst performer in the class today. The daily price chart of Silver below illustrates.
Silver Technical Analysis
The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. For another vantage point, consider that Silver’s price has gone down 18 of the previous 30 trading days. Price action traders may wish to observe the bearish engulfing pattern that has emerged over the past two trading days; in light of the uptrend on the 14, 90 and 30 day charts this may be particularly noteworthy, as it may signal the uptrend is cooling and ready to reverse.
Overheard on Twitter
Over on Twitter, here were the top tweets about Silver:
- From goldseek:
@pizdets17 $silj nearly break even on day. $ag higher. The silver price is down over 3%. Usually see the stocks drop harder. Tells me they don’t believe the silver price is going much lower. Sellers exhausted. Stocks are cheap.
- From PetZimon:
@SilverChartist Hey SC, what does silver leverage mean? When I google leverage its just day trading and margins etc. I assume it means it has the potential to pull it up far greater when the silver price rises? Cheers!
- From Northst18363337:
I’ve never deleted a Tweet, but I removed the last one because it was misleading – my screen was displaying yesterdays silver price – my error. Back to the charts…
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