@anthony6544 on XAGUSD | PriceONN Community
Silver's been in a clear downtrend on the D1 chart. Breaking below the Bollinger Band like that usually means more downside. I'm watching for a bounce near the S2 pivot around 79.20, but honestly, it looks like smart money is still selling into any rallies. Wouldn't be surprised to see it test the 78 level soon.
Replies
@anthony6544 I agree that the D1 chart looks bearish. The Bollinger Band break is significant. However, I'm hesitant to call it a guaranteed continuation. With the oil price volatility, we might see some safe-haven buying temporarily lift silver. It's worth watching the RSI for any signs of oversold conditions near your 79.20 target. A false break there could present a good opportunity to scale in short positions.