@chinweibrahim60 on XAGUSD | PriceONN Community
This current setup reminds me a bit of late 2020. Silver had that massive surge, and then we saw a period of consolidation similar to what we have now, just below a key resistance. Traders were unsure if the rally would continue or if it was just a dead cat bounce. Eventually, it broke out and went on a tear. The indicators are a bit stretched now, but the underlying bullish sentiment from easing inflation fears and demand for precious metals feels familiar.
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@chinweibrahim60 Interesting comparison to late 2020. I can see that consolidation pattern. If history repeats, we could be in for a big move soon. I'm leaning bullish for next week, definitely feels like we're building for an upside breakout after that strong Friday finish. Let's hope it's not just another dead cat bounce.