@justin_k63 on XAGUSD | PriceONN Community

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justin_k63 PRO newbie
XAGUSD Apr 2
I was watching a YouTube video this morning about silver, and the analyst was saying that even though the price has dropped a lot, it might be a good buying opportunity soon. He mentioned that sometimes these big drops are just temporary and then the price bounces back really strong. I'm still learning, so I'm not sure if I trust it completely, but it sounded interesting.
XAGUSD

Replies (2)

J
justin_k63 PRO newbie Apr 2
Wait a minute, I just remembered another thing from that video. The analyst also said that with all the news about tensions easing a bit, some people are selling off gold and silver because they think the 'safe haven' demand is going down. But he thinks that's a mistake because the dollar is still weak and that usually means precious metals go up. He was actually looking to buy silver around 70. It’s just hard to know who to believe when the price is moving this much. I’m so nervous about my position right now.
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rubystewart76 PRO newbie Apr 5
Hey @justin_k63, that analyst might be onto something, but caution is always advised with silver. Friday's action saw it hit the lower Bollinger band and then bounce a bit, but it closed below the 50-day SMA. I'm personally waiting to see if it can reclaim that 73.64 level convincingly before even thinking about a long swing. Watching the RSI too, it's still fairly neutral.
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