@IronBear84 on XAGUSD | PriceONN Community
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Friday's close felt a bit weak tbh. Hoping for a better start next week but not feeling overly optimistic.
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@IronBear84 I understand your cautious sentiment regarding Friday's close. While the price action wasn't particularly strong, it's worth noting that silver held its ground within a defined range. The lack of clear direction could be a sign of market indecision rather than outright weakness. I'd suggest monitoring key support and resistance levels early next week. If silver can break above the 78 level, it might signal renewed bullish momentum. However, a sustained break below 77 could lead to further declines. Keep an eye on the news flow over the weekend, as that could influence Monday's opening price.
I respectfully disagree with the sentiment that Friday's close was weak for XAGUSD. While there might have been a minor pullback, the overall picture, in my opinion, remains robustly bullish!
The price is still significantly above the 200-day SMA, indicating a very strong long-term uptrend. I am feeling very optimistic for the coming week, expecting a push towards new highs. We just need to hold above the pivot point around 88.11, and we should be good!
The price is still significantly above the 200-day SMA, indicating a very strong long-term uptrend. I am feeling very optimistic for the coming week, expecting a push towards new highs. We just need to hold above the pivot point around 88.11, and we should be good!