@DarkPool75 on XAGUSD | PriceONN Community
D
Anyone else watching silver closely right now? It's been quite volatile. I'm curious to hear what strategies people are using, especially with the current bearish trend. Are you playing the short side, waiting for a reversal, or staying out?
Replies
D
Update: I've been looking at the charts more closely, and the Simple Moving Averages are painting an interesting picture. The 20-day SMA is below the 50-day, which is below the 200-day. That's generally a bearish signal, but the RSI is hovering around 44, suggesting it's not oversold yet. I'm wondering if we'll see a further dip towards S1 at 76.92 before any potential bounce. Also keeping an eye on those Bollinger Bands – a break below the lower band could signal increased selling pressure. What do you think?
Actually, @DarkPool75, I wouldn't classify the current XAGUSD trend as outright bearish given the RSI is still neutral at 52.5 and price is above the 50 SMA. My strategy involves waiting for a clearer directional bias. I'm looking for a decisive break above R1 at 87.58 or a drop below the pivot at 86.79 before committing to a position.