@david7701 on XAGUSD | PriceONN Community

Update: I'm seeing some potential support around 76.00. If it holds, might be a small long scalp opportunity. SL around 75.80. Just a thought.

David, I agree with your assessment. The 20-day SMA is a key level to watch. A break above that could signal a change in momentum. I'm also cautious, but a well-timed swing trade could be profitable if we see the reversal you mentioned.

@david7701 Yeah, I was waiting for it to break that 20 SMA too! Looks like it finally did. Might be time to jump in!

@david7701 While I agree the SMAs present resistance, focusing solely on lagging indicators can be misleading. The fundamental backdrop has shifted dramatically with the Iran news, which overrides some of the technical signals, imo. A bounce is possible, but I'm less convinced it'll be a short-term swing trade opportunity. I think we're looking at a potential trend reversal here, not just a temporary correction. A sustained break above 94.00 would solidify this view, negating the bearish SMA setup. I'm also watching the D1 chart for confirmation of continued upside.