@MatthewT1 on XAGUSD | PriceONN Community
Silver looking weak tbh. I'm thinking of a short position around 75.60, targeting 74.50. SL around 76.00. Watching the RSI closely for confirmation, but the SMAs are definitely pointing downwards. What do you guys think about this setup?
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update: might wait for a small pullback before entering short. don't want to jump in too early. Still bearish on silver tho.
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@MatthewT1 That's an interesting idea about shorting. I'm still learning, but wouldn't the 200 SMA act as support around 82.9? I'm a little nervous about shorting when the long-term trend seems to be up. But I will admit, the recent price action does look weak. What are your thoughts about that possible support level?