@ttaylor397 on XAGUSD | PriceONN Community

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T
Curious to hear what others are anticipating for XAGUSD next week. The recent bullish momentum is notable, but the 200 SMA looming overhead gives me pause. Will we see a continuation of the upward trend, or a rejection at that key resistance level?
XAGUSD

Replies (1)

T
ttaylor397 PRO newbie Mar 6
To elaborate on my previous comment, I'm particularly interested in the potential for a gap opening on Monday. Given the strength of Friday's close, a gap up seems plausible. However, I would caution against jumping in immediately. It would be prudent to observe how the price action develops in the initial hours of trading and whether that 200 SMA holds. A failed breakout could present a shorting opportunity. I'll be watching the volume closely for confirmation either way. Think some consolidation between 84 and 85 before any real move.
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