@anjalireddy18 on XAGUSD | PriceONN Community
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Silver's been consolidating around 83.50-84.00 for a while now. I think we'll see a push towards 84.50 resistance in the next day or two, maybe even test 85. The RSI isn't overbought yet, and the 20 SMA is holding as support. If it breaks 83.50 though, watch out below.
Replies
@anjalireddy18, I'm watching that 83.50 level as well. If it breaks, I think we could see a pretty quick move down to 83.00 or even lower. RSI is still neutral, so there's room to fall. I'm holding a small long position from 84.20, but I'm ready to cut losses if it starts to look weak. Need to manage risk, you know. Wish me luck lol.
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@anjalireddy18, I agree with you about the 83.50 level being important. If it breaks, I think we could see a faster move down than just to 83.00. Maybe even test that S2 pivot around 83.27. I'm still learning, but it seems like the bollinger bands are starting to widen too, which could mean increased volatility. What are your thoughts on the news about Iran affecting silver?