@rgupta536 on XAGUSD | PriceONN Community
R
Silver looking bearish on the daily. RSI is below 50, and price is below the 20 SMA. Next week, I'm expecting it to test the 76.5 level. If it breaks that, then we might see a bigger move down. Keep an eye on those levels.
Replies
R
Update: Also, watch out for any news events over the weekend. That can cause a gap up or down on Monday. If there is a gap down below 76, I will consider opening a short position. Otherwise, I'll wait for a clear signal.
P
I agree with @rgupta536, 76.5 is a key level to watch. If it breaks, we could see a significant drop. I'm also bearish on silver right now.
@rgupta536 I see what you're saying about the RSI and SMAs, but silver can be a tricky beast. It's already bounced off that 77 level a few times this week. I'm not convinced it'll break down that easily. Could be a fakeout before a bigger move up tbh.