Silver (XAGUSD) Down $0.1 Over Past 4 Hours, Makes Big Move Relative to Two Week Trend; Breaks Below 20 Day Average

Silver 4 Hour Price Update

Updated January 11, 2021 12:02 PM GMT (08:02 AM EST)

Silver closed the previous 4 hours down 0.36% ($0.1); this denotes the 2nd straight candle it has gone down. 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 closed the previous day down 6.4% ($1.73); this denotes the 3rd day in a row it has gone down. On a relative basis, Silver was the worst performer out of all 5 of the assets in the metals asset class today. The daily price chart of Silver below illustrates.

XAGUSD

Silver Technical Analysis

First things first: Silver crossed below its 20 day moving average yesterday. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. Price action traders in particular will want to note that the 90 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 9 of the previous 14 trading 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 CordovaTrades:

    Going to interview @UncleRico77 today about what he thinks for gold & silver price direction(!) &… bitcoin(!) and also to have him translate some of the economic jargon I’m seeing on Twitter from smart people because I have no idea what they are saying and I’m lazy & dumb.

  • From TBaron66:

    @short_le_marche @badcharts1 Basically, the Silver price has just barely started to appreciate in absolute and relative (to Gold) terms. The likelihood of higher Silver price is high in upcoming years. Of course this increase won’t be a straight line! As always patience & conviction are needed in investment.

  • From MarcDeMesel:

    @Tulle001 silver is very correlated to gold, just more extreme in price swings, so think same applies, likely to go down in value, but silver price more easily manipulated upwards as very few supply available in form of good delivery bars in comex, so articifial shortage possible

In terms of news links for Silver here’s one to try:

Silver Price Could Double Again Within 90 Days of Time | ZeroHedge

Silver vs Stock market percentage gain performance full fiat era SD Bullion   More simple to see is perhaps the full fiat era dow gold ratio, which stands near 16 at the moment.  A run back towards ten and beyond 2011’s low towards five is possible in this Biden administration’s coming tenure….Gold Dow Ratio 2021 full fiat currency era SD Bullion   On the silver side of this full fiat era, note the gap between where we are now vs….Silver Dow Ratio 2021 full fiat currency era SD Bullion   After all, the soon to be President is coming into office with trillions of more fiats stuttering off his silver tongue.