@HiraShah76 on XAGUSD | PriceONN Community

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HiraShah76 PRO newbie
XAGUSD Mar 3
XAGUSD is currently exhibiting a bearish trend, as indicated by the significant drop today. I am observing the price action closely around the S1 pivot point at 82.38. If this level fails to hold, we might see a further decline towards S2 at 81.27. I am curious to see how the price behaves near these support levels.
XAGUSD

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HiraShah76 PRO newbie Mar 3
Update: I also noticed that the 20-day SMA is well above the current price. The Simple Moving Average is a good indicator of overall trend and in this case confirms the bearish signals. I am thinking of setting a short position if the price breaks below the S1 pivot point. What are your thoughts on the SMA?
EURUSD 1.16261 -0.04%
GBPUSD 1.34409 -0.16%
USDJPY 159.85650 -0.01%
XAUUSD 4,467.34 -0.45%
XAGUSD 73.55 -2.06%
BTCUSD 62,918 -6.91%
SP500 6,572.87 +0.74%
BRENT 98.92 +0.04%
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