@sreddy719 on XAGUSD | PriceONN Community

Hey @sreddy719, I get what you're saying about a potential bear trap, but man, that drop on Friday looked pretty serious. RSI at 30 is low, sure, but we've seen silver dive lower before and keep going. I'm not so sure about a quick bounce, especially with the geopolitical noise and that strong dollar narrative coming back. This might be more than just a shakeout, could be real selling pressure from the big boys. I'm watching that 66.50 S2 pivot level closely, if that breaks, we're going to see some serious panic selling. I wouldn't be surprised if we test even lower levels next week. Gotta respect the price action, it's screaming bearish right now, even if some whale is trying to pull a fast one.

Hey @sreddy719, I saw your comment about a potential bear trap on XAGUSD. I totally get where you're coming from with the RSI looking oversold, and the geopolitical stuff definitely adds noise. Friday's drop was brutal though, it really felt like a cascade not just a pullback. That 6.5% fall in one day is huge and pushed us way below the 20 and 50 SMAs. The news about silver plunging over 6% and testing lows made me nervous about holding any long positions over the weekend. While a bounce is possible, I'm leaning towards more downside unless something significant shifts by Monday open. What are your thoughts on the major moving averages being broken?