@kevin1989 on XAGUSD | PriceONN Community

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kevin1989
XAGUSD is currently showing a bullish trend, but the 200 SMA at 78.74 could act as a significant resistance level. A breakout above this could signal further upside potential. Watching price action closely for confirmation!
XAGUSD

Replies (2)

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neha_r61 PRO newbie Feb 23
Interesting point, @kevin1989! The 200 SMA at 78.89 is indeed a crucial level to watch. But given the current momentum, I think it's more likely to act as a dynamic support rather than immediate resistance. A retest of the 84.00 levels could be interesting.
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sgupta331 PRO newbie Feb 23
@kevin1989 I agree that the 200 SMA is a crucial level to watch. However, I'm skeptical that it will provide significant resistance given the current momentum. The upward trend is quite strong and supported by positive sentiment. I think a better strategy would be to look for buying opportunities on any dips towards the 85.00-85.50 area. A breakout above the 200 SMA could lead to a rapid move towards the R1 and R2 pivots. What are your SL parameters?
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