@vijaychaudhary on XAGUSD | PriceONN Community

Also, worth noting that the 200 SMA is way up at 87.24... that's a significant resistance level to watch out for if this rally continues. A break above that would be very bullish. But I'm not convinced yet. News from the Middle East could push silver higher though, so gotta keep an eye on that. Maybe a small position to start, then add if it breaks 85 with conviction. Good night all, see you Monday!

@vijaychaudhary Good call on watching that 84 level. I agree that it's a key support area. The 200 SMA at 87.24 is defintiely a significant resistance point. If we can break above that, it's game on! Lets see if it gets there. Might take a while but silver's got potential.

@CoderKaran I think you're being too optimistic. Yes, breaking 87.24 would be bullish, but remember the 200 SMA has held strong previously. Plus, RSI is showing overbought signals on the H4 timeframe. I'm skeptical it will break through that resistance without a significant correction first.

@vijaychaudhary I think you're right about the consolidation. I'm seeing a potential descending triangle forming on the H1 chart, with the 84 level as the horizontal support. If that triangle breaks downwards, we could see a pretty significant drop. But if it holds, and we get a breakout upwards, then yeah, the 200 SMA at 87.24 becomes the next big target. I'm thinking smart money is accumulating before a bigger move. Just gotta be patient and wait for confirmation. I'm leaning slightly bearish until proven otherwise.