@jackgreen23 on XAGUSD | PriceONN Community
Okay, so looking at the weekly close on silver, it wasn't too bad considering all the volatility we've had. Managed to close above the 20 SMA which is a good sign, but that 200 SMA is still a major hurdle. I'm thinking we might see a push towards 85.50-86 early in the week, but a lot depends on how the smart money reacts to the news from the Middle East, and whether there's a monday morning liquidity grab. If we can break above 86 and hold, then I'll be more confident about a sustained uptrend. Otherwise, I'm expecting a pullback towards the 83.50 area. Will keep an eye on the RSI too. NFA obviously!
Replies
@jackgreen23 I agree that the 200 SMA is a key level to watch. I'm also curious to see if we get an order block forming around 85.50-86 as you mentioned. If we see a strong rejection there, it might be a good opportunity to short, but let's see what Monday brings!
V
@jackgreen23 I agree with you on the 200 SMA being a major hurdle. I'm also keeping an eye on that 85.50-86 area. If it rejects there, I might consider opening a small short position. But I'm still learning, so I'm not completely sure. What do you think about the RSI? Is it overbought at all?