@OrbitRun16 on XAGUSD | PriceONN Community
Anyone else watching the Bollinger Bands tighten up on silver? Seems like we're due for a breakout (or breakdown!) soon. I'm leaning bearish with the RSI below 40, but I'm curious what others are seeing. What's your take on the short-term direction, folks?
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Update: Thinking of setting a tight SL around 87.50 if I decide to short. Gotta protect those gains (or lack thereof)!
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Hey @OrbitRun16, good observation on the Bollinger Bands tightening. I'm seeing that too. Your bearish lean with the RSI makes sense, but I'm a bit more neutral at the moment. We're still above the 20 and 50 SMAs, which suggests some underlying bullish momentum. I think it could go either way depending on the early week volume. A break below the 83.50 area could confirm your bearish outlook, but until then, I'm staying cautious. Could be a good scalp either direction though!