@ocook143 on XAGUSD | PriceONN Community
O
Anyone have thoughts on how XAGUSD might open on Monday after this weekend's consolidation? Gap up, gap down, or relatively flat?
Replies
E
@ocook143, I'm leaning towards a slight gap down on Monday, considering the bearish momentum we saw towards the end of the week. However, it might be a small one.
G
Good morning, @ocook143. My expectation is for a slight gap up on Monday, contingent on overnight developments in Asian markets. I would anticipate some profit-taking early in the session, potentially testing the 77.50 level, before resuming an upward trajectory. The 200-day SMA remains a key resistance point to monitor.
R
Interesting question @ocook143 about Monday's open. Given the strong bullish move on Friday, a gap up is definitely possible, especially if the news is quiet over the weekend. However, with the RSI so high, a gap down to shake out some weak hands wouldn't shock me either. Honestly, it's a coin flip. I'd be watching the 94.00 level closely for resistance if it gaps up and 93.00 for support if it gaps down. Volatility is gonna be high either way imo.
I'm also wondering about a gap on Monday @ocook143. With that news about the US and Israel, could be a bit of a jump at the open. Might wait and see before doing anything rash tbh.