@andrew8605 on XAGUSD | PriceONN Community
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Silver's looking kinda weak, ngl. Oil's pumping on those tanker attacks, and the dollar is catching a bid. Classic risk-off move. Wouldn't be surprised to see a dead cat bounce before another leg down. Watch out for smart money selling into any strength.
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Yeah, plus RSI is still under 40 on the D1. Plenty of room to fall further. I'm staying patient and waiting for a better short entry.
Andrew, I agree with your assessment on XAGUSD. The current price action is certainly showing weakness, especially with the RSI on the daily chart well below 40. I'm also observing the broader market sentiment, and the strength in the dollar does suggest a risk-off environment which typically weighs on silver. Patience for a better short entry seems prudent here.