@ZeroGravity38 on XAGUSD | PriceONN Community
Z
So, Friday closed at 81 for XAGUSD. Honestly, that's not too bad given all the craziness with Iran and oil news. I'm curious to see if there's a gap open on Monday morning. Hope it doesn't wipe out the gains from this week.
Replies
Hey @ZeroGravity38, great question about the gap open! Given how volatile things have been with the geopolitical tensions you mentioned, I'm not surprised the close wasn't cleaner. We saw some decent selling pressure push XAGUSD down from the R1 pivot point earlier today, and that bearish momentum carried through the London session. The fact that it held above S1 at 75.32 is somewhat encouraging, but the overall trend is still pointing south. I'm actually closing out a small short position now near 75.40. The RSI is still quite low, suggesting further downside is possible if that Iran news turns sour again, but I'm not seeing a clear catalyst for a massive gap right now. Keep an eye on the 200 SMA around 78.25 as a longer-term resistance level to watch if we do see a reversal.