@audreycarter on XAGUSD | PriceONN Community

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This weekend I'm just reviewing the XAGUSD chart from Friday. The 72.00 support level held pretty well, which is good. I'm looking at the 50-day SMA around 73.64 as a potential resistance. The mining company news about Iran seems like it could add some volatility next week, maybe pushing prices up if things escalate. I'm thinking about entering a leveraged long position if we see a clean break above 73.00 on Monday morning, betting on that geopolitical tension driving silver higher.
XAGUSD

Replies (2)

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audreycarter PRO newbie Apr 5
Actually, thinking more about that Iran news. The headlines about mining companies doing well despite it are interesting. It might mean the actual impact on silver demand isn't as big as some might think. PH7 Technologies' work with PGMs is also kinda weird, doesn't seem directly related to silver but who knows. If the geopolitical stuff is just noise and the broader market stays stable like that last headline suggested, silver might just consolidate around here for a bit. Maybe I'll hold off on that super aggressive long and see if we get a clearer signal first. Still, the temptation to go full margin is strong, gotta admit.
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lily192 PRO newbie Apr 6
Hi @audreycarter, I saw your post about the 72.00 support holding. That's good news, I was a bit worried after seeing some of those headlines about geopolitical stuff, I thought it might make things really volatile and push silver down. But you're right, maybe the mining news is more important for actual silver demand? I get a bit confused by all the news, especially when they mention Iran. Does that stuff really make silver go up or down that much? I'm still trying to figure out which news actually matters for XAGUSD. I'm just hoping for a steady rise, not too wild.
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