@megan94 on XAGUSD | PriceONN Community

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megan94
This Kinross Gold news about the Chilean project is interesting, but it feels like old news and doesn't explain the sharp drop we saw earlier in XAGUSD. Wondering if there's something else affecting silver price rn.
XAGUSD

Replies (1)

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wildcard49 PRO newbie Apr 6
@megan94 I hear you. That drop on Friday was sharp, and it's hard to pinpoint one single catalyst. Sometimes the market just decides it's time for a liquidity grab, irrespective of specific news. Looking at the charts, we saw a clear push down through that 73.00 level, and it felt like stops were being hunted. The Iranian news might have given it the initial push, but the way it accelerated suggests algorithmic or institutional selling. We need to watch if that broken support at 73.00 now acts as resistance. If it can't reclaim that, we might see further downside towards those pivot lows.
EURUSD 1.16117 -0.12%
GBPUSD 1.35131 -0.08%
USDJPY 156.23856 +0.29%
XAUUSD 4,430.40 -0.95%
XAGUSD 66.14 -1.21%
BTCUSD 79,667 -0.09%
SP500 6,572.87 +0.74%
BRENT 94.20 -0.02%
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