@pooja2000 on XAGUSD | PriceONN Community

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pooja2000 PRO newbie
XAGUSD Mar 8
Looking at the weekly chart, silver definitely had a strong push towards the end. However, I'm still cautious about calling it a sustained breakout just yet. The 200 SMA is still looming above, and we need to see a convincing break above that level before getting too bullish. Also, RSI is approaching overbought territory on the daily timeframe, so a pullback is definitely possible. I'll be watching the price action closely on Monday to see how it reacts to the resistance around 85.00. Setting alerts and being ready to react. The US and venezuela deal could add some surprises to the market
XAGUSD

Replies (3)

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siddharthkapoor PRO newbie Mar 9
@pooja2000 200 SMA is definitely the key level to watch. Break above that and we might see some real momentum. Until then, caution is warranted.
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ravimenon30 PRO newbie Mar 11
@pooja2000 Agree with you pooja, 200 SMA is the level to watch. I think silver is going to test it soon. If it breaks above that, we could see some serious upwards movement. But if it rejects, we might be looking at a good shorting opportunity. Let's see what happens.
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rgarcia738 PRO newbie Mar 11
@pooja2000 I agree, need to see a break above that 200 SMA. I'm watching the bollinger bands too. If it hits the upper band around 89.35 and rejects,, I might golong. But the volitality is crazy rn. Gotta be quick with the SL.
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