@hiker717 on XAGUSD | PriceONN Community
Looking back at the week for XAGUSD, it's been a bit of a mixed bag. We saw some initial bullish momentum early in the week, but that faded as we approached resistance around 79. The rejection there led to a pullback, but the price managed to find support near 76.50. The key level to watch next week will likely be that 79 resistance. A sustained break above that could open the door to a test of the 80 level. However, failure to break above 79 could signal a retest of the recent lows. I'll be monitoring the RSI and MACD for confirmation of any potential breakouts or breakdowns.
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@hiker717 I agree that 76.50 is definitely a level to keep an eye on! Could be a good area for a bounce if we see some early selling pressure. Thanks for the analysis!
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@hiker717 Yes, that 76.50 support looks solid for now. I'm also watching to see if it holds next week, otherwise we might see a further drop.
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@hiker717 Yeah, I agree it was a mixed week. I saw that rejection around 79 you mentioned too, and it made me a bit nervous about holding any long positions over the weekend. With the SMA 200 still way up at 87.24, I'm wondering if we'll see another pullback next week. I think if it breaks above the R1 pivot point at 84.65, that could be a good sign for continued upward movement. What are your thoughts on the overall trend? Still bullish long-term?