@brian6022 on XAGUSD | PriceONN Community
Watching silver closely here. RSI is hovering around 43, which is pretty neutral, but the price action is definitely bearish. Looks like it's testing that lower Bollinger Band around 80.80. Could be a good entry point for a long if it bounces, but gotta be careful with that downtrend.
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Update: Okay, so looking at the D1 chart, that 200-day SMA at 87.64 is a serious resistance level. If silver can't break above that, we're probably looking at further downside. I'm thinking of setting a buy order around 80.50 with a tight stop loss, just in case it dips further. Aiming for a target around 83.50 initially. Gotta keep an eye on those economic indicators coming out next week though, they could really shake things up. Also, volume is kinda light... makes me a bit nervous ngl.