@danielmoore87 on XAGUSD | PriceONN Community

Interesting close on Friday for XAGUSD, ending near 72.96 with that RSI still hanging in the mid-50s. I'm watching the 20 SMA at 71.73 and the 50 SMA around 73.64 for the week ahead. If we see continued dollar strength or hawkish Fed talk, I wouldn't be surprised to see bears push us towards the 71.00 level, potentially sweeping the lows around 71.50 where some inducement might be sitting. Conversely, if the PGMs news sparks some buying interest or we get some relief on inflation fears, a move back to test that 74.00 area isn't out of the question, especially if we can hold above the daily pivot at 72.64. I'm leaning slightly bearish for the immediate short-term, but I'm holding off on any new positions until Monday's open clarifies the direction. Need to see if that 72 support cracks or holds firm.