@gauravbhatt81 on XAGUSD | PriceONN Community
This XAGUSD close on Friday was interesting, holding above the 200 SMA after that scare. I'm thinking Monday might open with a small gap up based on that late surge, but the overall trend still feels a bit undecided. Will be watching the pivot point around 70.08 very closely for any early signs of weakness or strength. Need to see if that upward momentum from Friday carries over.
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Oh, and I'll be keeping an eye on that 69.05 S2 pivot. If we test and break that on Monday morning, it might signal a liquidity grab before a potential bounce. That would be a good entry zone if it holds.
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@gauravbhatt81 I agree with you that the close on Friday was interesting, holding above the 200 SMA is a positive sign. However, I am still very wary about this XAGUSD rally. That surge you mentioned feels more like a reaction to the geopolitical tensions, especially with the news about Iran and the de-escalation hopes. I think the price is being pushed up artificially right now. If you look at the overall economic picture, interest rates are still a concern, and that usually weighs on silver. I'm not convinced this bullishness will last, and I'm anticipating a drop back towards the 70 mark, maybe even lower if that 69.05 S2 level you mentioned breaks.