@sophie02 on XAGUSD | PriceONN Community
Silver's been a bit of a rollercoaster lately 🎢. I'm seeing a bearish trend confirmed by the break below the 20 SMA. RSI isn't oversold yet, so there's room for further downside. Watching the S1 pivot at 72.98 as potential support, but I'm not convinced it'll hold. Could see it testing lower levels if the selling pressure continues 🤔.
Replies
@sophie02, I concur with your observation regarding the break below the 20 SMA. However, I'm hesitant to commit to a fully bearish outlook just yet. The market sentiment surrounding silver seems quite sensitive to broader economic news. I think we should wait for more data before confirming a strong downward trend, but your points are well-taken.