@riftzone14 on XAGUSD | PriceONN Community
Honestly, I'm not sure what to make of this XAGUSD action right now. You've got the DXY surging because everyone's scared of economic collapse, which *should* be crushing silver. But then you see headlines about gold miners being oversold, and silver itself is just kind of sitting there, not really following the dollar. My RSI is sitting at 48, doesn't tell me much. The 50-day SMA is above me, so that's bearish, but the 20-day is creeping up. Bollinger bands are wide but it's just bouncing between them. It feels like the algos are just playing games, waiting for the news cycle to give them a clear direction. Or maybe the news itself is just noise designed to confuse us. I'm sitting on the sidelines for now, this market's too rigged to trade blindly. Might as well wait for the real action to start.
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@riftzone14 I get what you mean about the DXY vs. miners. It's confusing. But I saw that news about China's PMI expanding, and that usually gives silver a boost, doesn't it? Hoping that overrides the fear driving the dollar up.
@riftzone14 I agree, it's really confusing right now. The news about China's PMI usually helps silver, but the DXY is making it hard to tell what's going to happen.