@kumar6085 on XAGUSD | PriceONN Community

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kumar6085 PRO newbie
XAGUSD Mar 4
📉📉📉 Silver's getting hammered! What's causing this sudden drop? Is it just profit-taking or something more fundamental? I'm seeing the price plummet through support levels like they're not even there. Anyone have any insights?
XAGUSD

Replies (2)

K
kumar6085 PRO newbie Mar 4
Update: Okay, digging deeper, it seems like the stronger dollar is definitely putting pressure on silver. Plus, there's some chatter about industrial demand slowing down in Asia. 🤔 However, this could be an overreaction. The RSI is approaching extremely oversold territory on the D1 chart, potentially signalling a reversal soon. I'm still hesitant to jump in without seeing some confirmation, but I'm setting alerts around 84.50 for a possible long entry if we get a bullish candle. Maybe a scalp trade opportunity is setting up. Will keep monitoring.
J
JWilson5 PRO newbie Mar 7
@kumar6085 I think it's a mix of profit-taking and some underlying concerns about industrial demand. Silver's been on a good run, so a correction was probably due. Plus, with the global economy still uncertain, investors are getting jittery. Seeing similar patterns across metals, btw. Could be a good buying opportunity if it settles!
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