Silver (XAGUSD) Up $0.01 Over Past 4 Hours, Moves Up For the 5th Day In A Row; Pin Bar Pattern Appearing on Chart

Silver 4 Hour Price Update

Updated December 30, 2020 01:58 AM GMT (09:58 PM EST)

The end of a 5 four-hour candle negative run has come for Silver, which finished the previous 4 hours up 0.04% ($0.01). Relative to other instruments in the metals asset class, Silver ranked 2nd since the previous 4 hours in terms of percentage price change.

Silver Daily Price Recap

Silver came into today up 0.07% ($0.02) from the open of yesterday, marking the 5th day in a row an upward move has occurred. 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 yesterday. Let’s take a look at the daily price chart of Silver.

XAGUSD

Silver Technical Analysis

Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 18 out of the past 30 days. As for those who trade off of candlesticks, we should note that we’re seeing pin bar pattern appearing here.

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 DFPSoldier:

    Due to the weakness of the American dollar this week, you’re going to see a small jump in #Silver. Price may hit $27.50 and challenge $28, before falling back to $27.05-ish. Don’t get excited. The price moves say nothing about #Silver and everything about fiat’s weakness.

  • From AtoniusAntonius:

    @Clayton34276863 @2020Upstream @LawrenceLepard @LukeGromen I do agree with the point. But those coins did not have a scarcity or numismatic premium when they were legal tender. Should use the silver price to make the point, I would think.

  • From AndrewWeston9:

    #POW if that silver price target is correct PJ will want to get in silver peaks asap as soon as the ground has thawed. 2021 looks fantastic as a junior miner

As for a news story related to Silver getting some buzz:

Silver price to shine the brightest in 2021, gold is third most popular asset | Kitco News

Many analysts also see silver outperforming gold prices in 2021….This suggests that already low inventories may decline further, so prices are set to remain elevated.” Gold prices came in third place with 140 participants or 14% expecting the yellow metal to be the best performing asset in 2021….Sentiment in the gold market is extremely bullish with many analysts expecting prices to retest August’s all-time highs above $2,000 an ounce.