@lindawilliams92 on XAGUSD | PriceONN Community
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I think we're going to see XAGUSD push towards the 78.50 level by the Sydney close. The RSI is still well below overbought territory on the 4H, and that bounce off the 77.50 support looks solid.
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Hey @lindawilliams92, I see what you're saying about the 78.50 level, but man, this whole geopolitical stuff with Iran and the Strait of Hormuz is really scaring me. The news about oil prices going up and causing inflation concerns is making me think the dollar might strengthen, which usually isn't good for silver. I bought some silver last week around 74 because I thought it was going to go up, but now it's dropping hard and I'm seeing losses. It feels like a big trap, like it's going to push higher briefly and then crash again. Honestly, the price action today just looks like pure fear selling, especially with the news about the dollar not rallying even though gold is pulling back. I'm really wondering if 77.50 is going to hold as support or if it's just a temporary pause before another leg down. NFA of course, just my scared newbie thoughts.