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Weekend thoughts on XAGUSD. That Friday close was rough, definitely a bearish signal. The weekly candle looks pretty ugly, closing below the 200 SMA now. I'm not seeing much on the charts to suggest a bullish reversal right now. It feels like we're just bleeding out.
Zeeshan, I agree with your assessment. That Friday close below the 200 SMA on XAGUSD is concerning. Given the bearish sentiment and the dollar strengthening due to the Iran tensions, I've actually halved my usual position size for any short trades I consider now. Better to be cautious with this kind of volatility.
