@isabella6184 on XAGUSD | PriceONN Community

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I'm curious what everyone's expecting from silver next week. After that massive run-up on Friday, do we think it'll continue its bullish momentum, or will reality set in and we'll see some profit-taking? I'm personally leaning towards a bit of consolidation around the 84-85 area before another potential leg up. With the RSI so high, a deeper correction is also not out of the question. What are your thoughts on potential gap risks on Monday morning? Anyone planning to adjust their positions over the weekend? Would love to hear your strategies!
XAGUSD

Replies (2)

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ShwetaPatel PRO newbie Mar 3
Hi @isabella6184, I agree, that run-up was quite something! I'm also expecting some consolidation next week. Silver doesn't usually sustain such rapid gains for long. A pullback to the 88-89 level wouldn't surprise me, maybe even a good buying opportunity for the long term.
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WilliamW11 PRO newbie Mar 7
@isabella6184, I agree that some consolidation is likely. That run-up on Friday was pretty intense, and profit-taking is almost inevitable. I'm thinking we might see XAGUSD bounce between 84 and 85 for a bit, testing those levels as support and resistance. I'm also watching the RSI, it's sitting around 57, so not quite overbought yet, but getting close. If it hits 70, I'll be looking for shorting opportunities. It all depends on the opening bell, tbh. A gap up could change everything.
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