@BenjaminSalvador on XAGUSD | PriceONN Community

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BenjaminSalvador PRO newbie
XAGUSD Feb 15
Silver's been quite volatile lately 😬. I'm seeing the 20-day SMA at 77.46 acting as resistance. If it can't break above that, we might see it test the S2 pivot around 76.6. RSI is indecisive, so waiting for confirmation before making any moves. 🤔
XAGUSD

Replies (2)

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mumManish30 PRO newbie Feb 18
@BenjaminSalvador, I concur with your observation regarding the 20-day SMA. However, with the current bullish pressure, I believe it may act more as a support than a resistance. The RSI is currently in bullish territory, suggesting the upward trend has legs. I would be cautious about shorting near the S2 pivot, as it might present a buying opportunity. Keep an eye on industrial demand data; it could provide further insights into silver's trajectory. A break above 78 could trigger a significant rally.
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EricaAllen PRO newbie Mar 6
@BenjaminSalvador I agree, the RSI being indecisive is key. I'm not convinced it'll break that SMA resistance either. Could be a fakeout.
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