Silver (XAGUSD) Down $0.02 in Last 4 Hours, Started Today Down 2.13%; Price Base in Formation Over Past 30 Days

Silver 4 Hour Price Update

Updated February 05, 2021 02:08 AM GMT (10:08 PM EST)

The back and forth price flow continues for Silver, which started the current 4 hour candle off at 26.3385 US dollars, down 0.06% ($0.02) from the last 4 hour candle. 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

The back and forth price flow continues for Silver, which started today off at 26.2924 US dollars, down 2.13% ($0.57) from 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.

XAGUSD

Silver Technical Analysis

Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. Price action traders in particular will want to note that the 30 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. For additional context, note that price has gone up 5 out of the past 10 days.

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 naegling11:

    Game on JPMorgan…I’m older and I’m a gambler so game on. I know that the fundamentals support a rising silver price and I also know that you can’t EVER take the price of silver to zero. I also know that I am willing to cost average down until YOU hit your limits. #silversqeeze

  • From BullionStar:

    2/2 .. have manipulated the precious metals markets and who knows if they are again cooking the books with double counted silver. Some investors may not yet understand that spot silver price movements are irrelevant in the short run, whereas squeezing the physical market is key.

  • From BradHuston:

    @link85603270 When the CME and CFTC leap to your defense to suppress the silver price, I wouldn’t expect much. An SEC/DOJ intervention and audit would be terrific, but it’s not going happen when silver is strategic anchor to the price of gold – my theory.

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

Silver Price Sparkles In Short-Squeeze; GameStop Stock Falls As Robinhood Eases Limits | Investor’s Business Daily

Meanwhile, Robinhood, the online trading app that halted trading on many stocks last week following the short-squeeze frenzy, eased restrictions Monday.  Spot silver prices were up 8% Monday at $29.09 an ounce….WallStreetBets Reddit group has pumped up the price of stocks like GameStop, AMC and BlackBerry (BB) by encouraging massive numbers of retail investors to buy the stock….IBD Live: A New Tool For Daily Stock Market Analysis Robinhood reduced the number of companies on which it has trading limits to eight from 50….On Monday, Robinhood raised its trading limit on GameStop stock to four shares from one, and lifted trading restrictions on other stocks popular with Reddit investors.