@stephanie3183 on XAGUSD | PriceONN Community
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Watching XAGUSD right now, it feels like it's just hanging around this 81.70-81.80 mark. Is anyone else seeing a clear direction here? I'm trying to figure out if this is just a pause before it continues its run up, or if we might see it pull back a bit. Curious to hear what others think about where silver is headed next.
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Hey @stephanie3183, yeah I'm watching that 81.70-81.80 area too. It's definitely a tricky spot. For me, looking at the bigger picture on the weekly, that area is pretty strong resistance. Friday's close around 80.90 was a bit weak, didn't quite have the follow-through I thought we'd see. I'm not convinced this is just a pause before a continued run. I'm actually leaning bearish for the start of next week. I think we might see a gap down on Monday if there's any negative news over the weekend, or just general profit-taking. I'm not going to jump in long until I see a clear break above 82.50 or a solid pullback to a lower support level. This feels like a potential reversal zone to me.