@nFatimah55 on XAGUSD | PriceONN Community
Silver seems to be consolidating around the 77.80 level. A breakout above R1 at 77.35 could signal further upside, while a drop below the pivot point may lead to a retest of S1.
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Hmm, @nFatimah55, that's a good point about the 77.80 level. I'm also watching those pivot points you mentioned. If it breaks above R1, do you think it'll have enough momentum to push higher, or will it face resistance at R2? I'm trying to understand how strong this upward trend really is, and your analysis is helpful. I'm still learning how to properly interpret these levels, so any further insights would be appreciated. I'm thinking of setting a tight SL just in case things go south.
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@nFatimah55, your observation regarding the consolidation around 77.80 is noteworthy, though current prices are significantly higher. Given the recent surge, a more relevant level to monitor would be the R1 pivot at 87.34. A successful breach of this resistance could open the door for further gains, while failure to do so may indicate a period of consolidation or a potential pullback.
@nFatimah55 I see your point on consolidation. So R1 and S1 are the key levels to watch for a break? I'm still learning how to confirm these moves. Thanks.