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Silver Closes Above Its 200 Day Moving Average

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The 200 day moving average is one signal that the computer algos watch. Recently, silver had fallen below its 200 day moving average as shown on the chart below from stockcharts.com . But Thursday (4-1-2021) it closed well back up above the 200 day average. The chart below (based on the April silver futures contract) shows the 200 day average at $24.77 and a candle yesterday that moved from below that price point to close at $24.95. chart from stockcharts.com click on chart to enlarge
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Is Reddit (Wall Street Silver) Impacting the Silver Market?

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In early February 2021, silver made a lot of news headlines. The so called "Reddit Crowd" had managed to run up the price of GameStop stock in a coordinated effort to force a short squeeze. This prompted all kinds of media attention and debate.  Soon thereafter, rumors began to circulate that the Reddit investors might next target the silver market in an effort to force silver prices higher. It was never determined how broad and coordinated this effort was, however new increased silver demand did push the silver price up to around $30 and no doubt it is likely some new Reddit silver investors did impact that move higher. On January 29th, a sub group of Reddit investors focused solely on silver ( r/Wallstreetsilver ) was created. Since this blog was also created due to a surge in silver interest, it is only natural to keep an eye on this group of silver investors to see what impact they may have on the market. As of the date of this article, the group has expanded to over 34,0...
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