Silver 4 Hour Price Update
Updated October 09, 2020 03:17 AM GMT (11:17 PM EST)
The back and forth price flow continues for Silver, which started the current 4 hour candle off at 23.825 US dollars, down 0.06% ($0.02) from the last 4 hour candle. Relative to other instruments in the metals asset class, Silver ranked 4th since the last 4 hour candle in terms of percentage price change.
Silver Daily Price Recap
The back and forth price flow continues for Silver, which started today off at 23.825 US dollars, down 0.06% ($0.02) from the previous day. Out of the 5 instruments in the metals asset class, Silver ended up ranking 4th for the day in terms of price change relative to the previous day. Here is a 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. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. Price action traders in particular will want to note that the 14 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. Or to view things another way, note that out of the past 14 days Silver’s price has gone down 8 them. Also, candlestick traders! Note we see pin bar pattern appearing here as well.
Overheard on Twitter
For laughs, fights, or genuinely useful information, let’s see what the most popular tweets pertaining to Silver for the past day were:
- From Malik49977264:
#UFO @AlienMetals Stock lagging the silver price re-rating makes no sense. The shares are in fact discounting a #silver price well below spot of c$15/oz and assigning zero value to the gold-copper and iron ore projects. Upside in the multiples, and at floor valuations. Clear buy.
- From insigniaconsul1:
Premium over MCX futures in silver (MCX silver december future+premium=physical silver price in India) has not risen at all today. This reflects subdued silver demand in India. #Silver @SilverInstitute @MCXIndialtd
- From SilverGold_News:
@CaptainCatus Gives an indictation of what the true #Silver price should be once you take the banksters out of the equation
View original article here Source