@AdemolaAdeyemi on XAGUSD | PriceONN Community

My analysis for XAGUSD indicates a fascinating setup for position traders. Despite the current slight downtick and the neutral trend, I'm observing the 50-SMA at 86.94 providing strong support, very close to the current price. This confluence with the lower Bollinger Band around 86.38 could prevent further significant downside in the short term. I'm particularly watching for a clear break above the 20-SMA at 87.48. If that occurs, we could see a push towards R1 at 87.74, potentially even testing the upper Bollinger Band. I'm preparing for a long entry with a tight stop-loss just below the S1 pivot point. The potential for a strong rebound is definitely there!