@sarahjackson65 on XAGUSD | PriceONN Community
Silver seems to be stuck in a bit of a rut, doesn't it? Hovering around that 77 level like it's afraid to commit. Maybe it's waiting for a sign from the economic gods. Anyone else feeling this indecision?
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Another thought: that 50-day SMA at 77.64 is acting like a pretty strong ceiling. Silver's been bumping its head against it all week. If it can't break through that, I'm not optimistic about any major upside in the short term. Could be a good opportunity for some scalping, though. Small gains add up!
Update: Just noticed the Bollinger Bands are looking pretty tight on the hourly chart. Could indicate a breakout coming, but which way will it go? I'm leaning towards a short position if it breaks below the lower band, but I'll need to see confirmation. I've been burned before trying to anticipate these things. Might set up a stop-loss order just in case my gut feeling is wrong. It wouldn't be the first time my gut has steered me wrong, LOL. I'm thinking a target around 76.50 if things go south.
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@sarahjackson65 Yep, indecision is the word! It's like silver is just waiting for a catalyst. Maybe this Iran situation is it?