@DavidArcher on XAGUSD | PriceONN Community
Silver really took a hit with the dollar strength today, didn't it? Saw that coming with the UoM consumer sentiment index being so low. People are feeling pessimistic, and that usually means a flight to the dollar as a 'safe haven'. I'm expecting further downside pressure on silver if this continues. Might be time to trim my long positions and wait for a better entry point.
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Oil prices recovering could provide some support to silver though. It is a tricky situation, gotta be careful and manage risk. I'm keeping my stops tight.