Silver (XAGUSD) Up $0.14 in Last 4 Hours, And A Story About Tom Cloud; in an Uptrend Over Past 30 Days

Silver 4 Hour Price Update

Updated June 02, 2020 11:18 PM GMT (07:18 PM EST)

Silver is up 0.84% ($0.14) since the previous 4 hours, marking the 6th candle in a row an increase has occurred. Relative to other instruments in the metals asset class, Silver ranked 4th since the previous 4 hours in terms of percentage price change.

Silver Daily Price Recap

Silver closed the day prior up 2.76% ($0.49); this denotes the 4th day in a row an upward move has occurred. Silver outperformed all 5 assets in the metals asset class since the day prior. Congrats to its holders! Let’s take a look at the daily price chart of Silver.

Silver Technical Analysis

The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. For another vantage point, consider that Silver’s price has gone up 18 of the previous 30 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 SRSroccoReport:

    @PeterSchiff @SchiffGold While industrial #silver demand in the solar industry will remain strong, the real driver of the market will become “Physical Investment demand.”I forecast industrial demand will become less of a factor of the silver price in the future.

  • From timhoppers:

    @SilverChartist Analysts like picking on $AG but the company is a pure play on Silver. When silver price scales up through the low 20’s Ag will likely lead the way IMO

  • From Guldaktier:

    This is typical of how the silver price riggers work. Increase the price when markets are closed. Then create negative sessions when markets open. Destroying momentum is their goal always

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

CHART OF THE WEEK: Silver Closes At The End Of May At An Important Technical Level – SRSrocco Report

Posted by SRSrocco
in News, Precious Metals
on May 30, 2020 —
15 comments When the U.S. market begins trading on Monday, the first day of June, it could be very interesting for the silver price.  Why?  Well, the silver price closed right at an important technical level on the last trading day of May.  More importantly, the silver price closed just a few cents shy from the highs for the month.  This could be very bullish for traders, depending on where silver trades during the Asian market on Sunday night….According to Stockcharts.com, the silver price increased more than $3.50 in May, up a healthy 23%.  I wrote about the technical levels for the silver price in my newest video, WARNING:  Economic & Market Depression, Precious Metals Bull Market.  On Thursday, May 28th, the silver price closed at $17.97.  The chart below is a “Monthly Chart,” so the candlesticks represent one month of trading….Now, let’s look at the same chart on the close of Friday, the last trading day in May: The silver price surged right up to the $18.50 level and closed the month just a few cents near the high.  Some of you may be asking, “Why is this silver price shown on Stockcharts and Investing.com different from Kitco.com which closed on Friday at $17.85.  Kitco.com is posting the most current silver futures contract of June, while other chart quoting services are going by the much more heavily traded July contract….If we look at the SILVER CHART OF THE WEEK again, there are several important factors to consider: Important Trading Factors to consider: So, I am really looking forward to the early Asian trading Sunday night.  Again, if silver GAPS up 10-20 cents and continues in the U.S. market, this could be very positive for the silver price.  If silver opens higher but sells of down to $18.20-$18.30, it could be setting up for a short-term correction before resuming its upward trend….Silver prices usually drop during deflation….We are at the point where I think, remarkably, the higher the silver price, the better it will sell, all the way up to about $50.