@mwright656 on XAGUSD | PriceONN Community
Silver closed the week strongly, reaching R2 at 93.81. RSI is showing overbought conditions though, so a pullback might be expected early next week. I wonder if the news about Iran will create a risk-off environment and push silver even higher as a safe haven asset. Definitely keeping an eye on how Monday opens.
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Just a quick update: I'm also checking the 4-hour chart for divergence signals before making any decisions on Monday. Need to be cautious with such a strong bullish move.
Following up on my earlier comment, I'm also considering the possibility of a gap up on Monday due to the geopolitical tensions. If that happens, I'll be looking for a potential short entry around the 94.50 level, targeting a return to the 93.00 pivot point. However, I'm still quite new to this so I will need to do more analysis over the weekend. Does anyone else have thoughts on potential gap strategies? I am especially curious about how to manage the increased volatility.