@segunakande39 on XAGUSD | PriceONN Community
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This XAGUSD has really dropped hard today. I saw it was around 72 yesterday, but now it's looking like it's heading towards that 68 level. Is this 68 support going to hold, or should I be worried about it breaking lower?
Replies
Hi @segunakande39, yeah, silver has definitely had a rough patch recently. That drop from yesterday's 72 level was significant. I'm looking at the chart and that 68 area you mentioned is a level to watch. It looks like it's sitting near a previous resistance turned support, so it *could* hold. However, the overall trend is looking a bit shaky. The fact that we're below the 20-day SMA is concerning. If 68 breaks, I wouldn't be surprised to see it test lower, maybe towards that 50-day SMA around 70.34 is not that far. Personally, I'd be very cautious about going long there without more confirmation. Might be safer to wait and see if it bounces convincingly or breaks down further.
Hey @segunakande39, I saw your question about XAGUSD and that 68 level. Honestly, I'm kinda new to this too and I'm really nervous about it. I bought in around 70.30 earlier today because I heard silver was going up with the tensions, but now it's barely moving and I'm worried it might actually drop further. I don't really get all the technical stuff like SMAs or pivots, but that 68 area does look like it could be important. If it breaks that, I don't know what I'll do, maybe I should just cut my losses now before it gets worse? It's so hard to know when to hold 'em and when to fold 'em with this stuff.