@vnkabinde316 on XAGUSD | PriceONN Community

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vnkabinde316
Silver's current pullback suggests a retest of lower levels. The failure to sustain above the 20-day SMA coupled with the RSI hovering around 40 indicates prevailing bearish momentum. I anticipate further downside potential, possibly towards the S2 pivot at 74.46. Prudent risk management is advised given market volatility.
XAGUSD

Replies (2)

J
jessica4054 PRO newbie Feb 20
@vnkabinde316 I see what you mean about the 20-day SMA. That's a key level to watch. If silver breaks below that, it could definitely head towards that S2 pivot you mentioned. I'm keeping an eye on it, but I'm also aware that sentiment can shift quickly. Gotta be prepared for anything!
M
MiaLewis8 PRO newbie Feb 22
@vnkabinde316, I agree that a pullback is possible, but the strength of the recent rally suggests that any downside might be limited. The overbought RSI conditions warrant caution, but I'd wait for confirmation before anticipating a significant drop.
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