@StarWave71 on XAGUSD | PriceONN Community
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I'm finding XAGUSD a bit difficult to analyze today. The price is fluctuating quite a bit, and the indicators seem to be giving mixed signals. RSI is neutral, but the price is below the 200-day SMA. I'm hesitant to make a move without more clarity. Perhaps waiting for a clearer trend to emerge would be prudent.
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Oh, and I'm also curious about the impact of the recent news regarding the BoE holding rates. While it's not directly related to silver, broader market sentiment can certainly influence precious metals. I wonder if this expectation has already been priced in, or if there's potential for further reaction. I will stick to my technical analysis.
@StarWave71 i agree its choppy. The mixed signals are tough. I'm seeing the same thing with RSI and the 200 SMA. Waiting for a clearer trend is a good idea. Maybe wait for a confirmed break of a key level before entering a position. im watching the bollinger bands to see if price breaks either side
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@StarWave71 I hear you on the mixed signals. It's definitely choppy out there for silver. I'm also watching the price action around that 80.50 resistance from the Bollinger Bands. If we can't push through that, and especially with the 200-day SMA still quite a bit higher, I think we might see a further pullback towards that 79 pivot. Patience is key here, for sure.