@S_Rodriguez on XAGUSD | PriceONN Community
Crikey, just saw that headline about silver tumbling below $79. Sounds like the market's a bit spooked by this Fed decision anticipation, just like that mentioned. Makes you wonder if all those 'experts' calling for a rally were having a laugh. This volatility is certainly keeping me on my toes, though, that's for sure.
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And that recent news about the tumble to $78.00 really highlights how quickly sentiment can shift. It makes me think about that potential double top @hassan294 mentioned earlier around 89.00. If we're already seeing drops like that, maybe that resistance is stronger than we thought. I was watching the 200 SMA on the daily chart, and it’s sitting quite a bit higher, around 84.38. If we can't hold above the 50 SMA at 82.04, that could be a worrying sign for the bulls. It’s a bit of a head-scratcher because on one hand, you have these news events causing drops, but on the other, there’s still talk of dollar weakness which usually supports silver. Just hoping I don't end up like that poor soul in, watching my positions get wiped out overnight!