@ApexHunt28 on XAGUSD | PriceONN Community
Silver is definitely in a tricky spot right now. The daily close below the 20 SMA at 89.56 coupled with the bearish RSI reading of 39.2 suggests downward pressure. We're currently sitting just above the lower Bollinger band. However, the 200 SMA is still significantly lower at 81.45, so the longer-term trend remains upward. For daytraders, this means increased volatility and potential for quick reversals. I'd advise caution and tight stops until we see a clear move above the pivot at 88.6 or a confirmed breakdown below 87.40. It's not a strong directional market at the moment, rather a battle between support and resistance.