@meeraiyer53 on XAGUSD | PriceONN Community
The silver market closed the week on a relatively positive note, reclaiming some lost ground, but I remain cautious. While the RSI suggests neutral conditions, the 200-day SMA still looms overhead as a significant resistance. Next week, I'll be watching closely to see if we can break through that level or if it will reject further advances.
Replies
@meeraiyer53 I agree with your caution. The 200-day SMA is definitely a key level to watch. A break above that could signal a sustained uptrend. I'm also looking at the RSI, but it's not giving a clear signal yet. Maybe wait for confirmation before making any big moves. I'm thinking of adding to my position if we get a pullback to the 84 level. But I'll wait and see what Monday brings. Safe trading!
C
@meeraiyer53 I agree, that 200-day SMA is a big hurdle. If silver can break above 87.27 (R2 pivot), we might see a significant push higher. Otherwise, a pullback to 86.51 is likely.