@PriyaN25 on XAGUSD | PriceONN Community
XAGUSD is hovering right around that 50-day SMA at 83.77. Could act as major resistance if it can't break through decisively. I'm leaning towards a slight pullback in the short term, maybe down to the 83.50 area, before any further upward movement. Keep an eye on those Bollinger Bands too, upper band is around 85.1, that's the next target if it pushes higher.
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Update: Silver's struggling to hold above 84.00 now. The volume isn't exactly convincing either. I'm thinking that pullback might be sooner rather than later. I'm watching for a break below 83.70 as confirmation. If it does break, I'll be looking for a retest of the 83.50 level as a potential short entry. Of course, this is just my personal view, so always do your own research before making any trades. Remember to set stops! Maybe a tight stop just above 84.00 if shorting. Risk management is key ppl!