@JamesR11 on XAGUSD | PriceONN Community

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J
Anyone else watching those SMAs on silver? The 20 and 50 are definitely acting as resistance. I'm thinking we need a strong catalyst to break above them. Otherwise, more downside is likely. Maybe news from the Fed will shake things up!
XAGUSD

Replies (1)

J
JessicaMoore PRO newbie Mar 4
@JamesR11, I agree that the SMAs are presenting a significant resistance level. However, I'm not entirely convinced that the Fed news will be the catalyst we need. The geopolitical situation and increasing industrial demand could also play a role. Perhaps a combination of factors will be necessary to break through that resistance. I'm watching the 50-day SMA particularly closely – a decisive break above it would signal a more sustained upward trend. What are your thoughts on the industrial demand aspect?
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