@ElenaG34 on XAGUSD | PriceONN Community

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ElenaG34 PRO newbie
XAGUSD Mar 20
Just opened a long position on XAGUSD at 67.90. My target is to reach the 72.00 level, where I think we'll see some resistance. I'm hoping for a strong bounce from these oversold levels. This feels like a good entry point to capture some upside.
XAGUSD

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ElenaG34 PRO newbie Mar 20
Actually, looking at the Bollinger Bands too, we're right at the lower band around 67.66. This usually means a bounce is imminent. I've set my stop loss quite tight, just below 67.50, so if it doesn't work out, I won't lose much. But I'm optimistic that we'll see a push towards the middle band at 71.48 soon. The market needs to correct this oversold condition. The news about the Gulf situation is also adding some safe-haven demand, which should benefit silver.
EURUSD 1.16080 -0.20%
GBPUSD 1.34258 -0.28%
USDJPY 159.91150 +0.02%
XAUUSD 4,474.25 -0.30%
XAGUSD 73.51 -2.12%
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BRENT 100.16 +1.29%
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