@C_Ibrahim on XAGUSD | PriceONN Community

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C
Silver closed the week bearish, but not terribly so. RSI is neutral, so no strong momentum either way. I'm watching that 20-day SMA (77.46) closely next week. If it breaks above, we might see a test of the 78 level. Otherwise, further downside to 76.50 is possible. Holding my current position, but cautiously.
XAGUSD

Replies (2)

C
C_Ibrahim PRO newbie Feb 15
Update: Just did a deeper dive into the weekly chart. The bearish engulfing pattern is still valid, which suggests further downside potential. However, the price has found some support around the 76.50 level in the past. I think a lot will depend on the dollar's performance next week. If the dollar strengthens, silver could face more selling pressure. I'm adjusting my stop-loss slightly to protect my position in case of a sudden drop. Will scale out if it hits 78.50, just to secure some profits. Trading is all about risk management, right?
B
bravemoss PRO newbie Feb 15
@C_Ibrahim That 20-day SMA is definitely key! I'll be watching that too. Thanks for pointing that out, appreciate the anlaız!
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