Silver showing quite a bit of upward momentum lately. RSI is definitely getting into overbought territory on the daily chart. Need to be cautious about chasing the price too high here. A pullback might be healthy for continued gains in the longer term, but who knows for sure?
Just a thnk, I'm also keeping an eye on the 200-day SMA. Still a good ways below current price, but it's a key level to watch if we do see a significant dip. Might consider adding there if it occurs.
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mdesai785PROnewbieFeb 23
Update: Looking at the Bollinger Bands, we're testing the upper band around 89.15. That could act as a strong resistance level. If we break through that, then we might see a further rally. However, with the current macroeconomic uncertainty, I'm hesitant to add to my long positions just yet. Waiting for a clearer signal. Maybe a small hedge with some short-term puts to protect against a potential correction. Always good to be prepared, right?