Silver (XAGUSD) Up $0.06 in Last 4 Hours, Entered Today Up 0.95%; Price Base in Formation Over Past 30 Days

Silver 4 Hour Price Update

Updated February 04, 2021 01:58 AM GMT (09:58 PM EST)

The back and forth price flow continues for Silver, which started the current 4 hour candle off at 26.824 US dollars, up 0.22% ($0.06) from the previous 4 hours. Silver outperformed all 5 assets in the metals asset class since the previous 4 hours.

Silver Daily Price Recap

The back and forth price flow continues for Silver, which started today off at 26.8642 US dollars, up 0.95% ($0.25) from yesterday. Out of the 5 instruments in the metals asset class, Silver ended up ranking 3rd for the day in terms of price change relative to yesterday. Here is a daily price chart of Silver.

XAGUSD

Silver Technical Analysis

The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. 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 6 out of the past 10 days.

Overheard on Twitter

Behold! Here are the top tweets related to Silver:

  • From smartcapital_ld:

    Fundamentally I am not concerned about today’s #Silver price action and I will not be surprised if we end up the day much higher than we currently are. But I also know that in the short term anything is possible. My investments are long term and I do not change anything today.

  • 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 MattStirner:

    This #silver price dump is hilarious, but nothing PM investors/bulls haven’t seen before. This is how they cover their shorts – by creating even more shorts. But since these are futures they don’t worry about it now because they won’t have to cover those until later.