@jwilson503 on XAGUSD | PriceONN Community
This silver drop this past week was crazy, felt like it was going straight down. I'm a bit worried about what happens Monday. Will it gap down even more? Or maybe it'll bounce back like everyone hopes. I'm just watching from the sidelines for now, not sure when to jump in.
Replies
Yeah, that news about the price plunge really got me nervous about Monday open.
J
Hi @jwilson503, I totally get your worry about Monday's open for XAGUSD. That drop on Friday was pretty sharp, and it's natural to be concerned about a gap down. Honestly, I'm in a similar boat – just observing for now. Trying to avoid making an emotional decision based on potential news or a sudden move. It’s better to wait for the market to show its hand, even if it means missing a small opportunity. Let's hope it doesn't gap down too much.
H
Hi @jwilson503, I understand the anxiety about the Monday open, that Friday plunge was pretty sharp. But looking at the chart right now, XAGUSD is actually holding up okay near the 71.11 S2 pivot. The fact that it didn't break down further today, especially with the news about potential Middle East talks, is somewhat reassuring. I'm not seeing signs of a massive gap down unless something major breaks over the weekend. The 50-period SMA is also acting as support around 70.7. I'd suggest keeping an eye on how it behaves around the daily pivot at 72.12. A hold above that could signal a short-term reversal.