Silver 4 Hour Price Update
Updated September 11, 2020 07:18 AM GMT (03:18 AM EST)
26.92 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 0.39% ($0.1) 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 choppiness in the recent daily price action of Silver continues; to start today, it came in at a price of 26.92 US dollars, down 0.39% ($0.1) since the day prior. Relative to other instruments in the metals asset class, Silver ranked 4th since the day prior in terms of percentage price change. 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 90 day timeframe, which shows price moving up 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. For another vantage point, consider that Silver’s price has gone up 5 of the previous 10 trading days. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!
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 silverquote:
Hong Kong #Silver #Price Morning Session Close: $26.62 USD per oz 2020-09-11 12:30:18 HKT
For a longer news piece related to XAGUSD that’s been generating discussion, check out:
Something BIG Happened in the U.S. Silver Market In June – SRSrocco Report
Thanks Steve!!!…steve It looks like the USA is the biggest Silver Bullion buyer this year….Steve….While some of this silver could have been used for SLV silver storage purposes, there was about 60 Moz that went into the SLV ETF in June, but there was even more in May, 70+ Moz….However, there were only 368 metric tons of silver bullion imported in May, or only 11.8 Moz.