I'm new to trading silver. The RSI is around 55 and price is near the 20 SMA. Is now a good time to buy, or should I wait for a dip? Thoughts on long-term potential at these levels?
@SamanthaClark I'd be cautious buying right now. RSI at 55 isn't oversold or overbought, so it's neutral. The price is also fighting the 50 SMA. Waiting for a dip might be a good idea, but keep an eye on the 20 SMA as support. Long-term, silver has potential, but short-term could be choppy. Maybe wait for confirmation of a bounce or a break above 90 before entering a position. Just my 2 cents!