@novapoint676 on XAGUSD | PriceONN Community

@novapoint676 I hear you on the volatility and the caution with open positions over the weekend. That 68 close was definitely a heavy one, and the RSI is screaming oversold at 30.8 on the daily. I'm not expecting a massive gap up to be honest; the fundamentals feel a bit mixed. I'm watching that S2 pivot at 66.59 closely, but if we open with a gap down and it breaks that immediately, I'll be looking for shorts to retest lower levels, maybe down towards the 65 area if momentum really kicks in. If it holds though, that could be a decent scalp long. I'm also keeping an eye on the 50-day SMA around 72.48; a strong push back above that would change my immediate outlook quite a bit. Just going to be patient and wait for a clear setup on Monday.

@novapoint676 Yeah, that 68 close was definitely a gut punch. Makes sense to stay flat over the weekend with how things are swinging. The daily RSI at 30.8 is screaming oversold, and I'm also seeing that on the H4 chart. We had that nice little surge earlier today past 72, fueled by some of that ceasefire optimism, but it looks like it's struggling to hold. The price action is hovering right around the P pivot point at 72.45. If that doesn't hold, the next logical support is S1 at 71.74. I'm not keen on chasing this unless I see a clear break above the 20 SMA around 72.86 with some serious buying pressure behind it. Maybe a bit of a dead cat bounce today before another leg down, or perhaps this news about the dollar weakening could give silver a sustained lift. Tough to call.