@ImranQureshi on XAGUSD | PriceONN Community
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Considering the significant move XAGUSD has made, I'm analyzing potential resistance levels above the current price. While 92.15 (upper Bollinger band) is a clear target, what are others' thoughts on the sustainability of this rally if we breach R2 at 91.05? I am looking at previous swing highs on the D1 chart for further projection, aiming to secure profits if momentum wanes.
Replies
@ImranQureshi, I agree that 92.15 is a key level to watch, aligning with the upper Bollinger Band. If XAGUSD manages to break above R2 (92.08), the rally's sustainability will largely depend on the overall risk sentiment and dollar strength. Fundamentally, any positive news regarding industrial demand for silver could fuel further gains. Technically, keep an eye on volume confirmation during the breakout; a low-volume breakout could be a false signal. Also, the 200 SMA around 86.19 is a crucial support level to consider in the bigger picture. A close above 92.15 on the daily could signal a longer-term bullish trend.