@jjohnson630 on XAGUSD | PriceONN Community
J
Anyone else wondering what silver's going to do next week? The close on Friday was decent, but it's still below that 200-day SMA. I'm curious to see if the news from the Middle East continues to provide support, or if we'll see a pullback. What are your expectations for the coming week?
Replies
J
Also considering the potential for a gap open on Monday. With all the geopolitical uncertainty, it wouldn't surprise me to see a significant move in either direction. Might be prudent to wait for the market to settle down a bit before jumping in. Risk management is key here, especially trading with leverage.
J
Thinking about it more, the US jobs data could play a bigger role than initially anticipated. Weaker data generally puts downward pressure on the dollar, which can be a tailwind for silver. However, risk sentiment is also a factor, and the Middle East situation could keep investors flocking to the dollar as a safe haven. It's a bit of a tug-of-war right now. Need to see how the dollar reacts on Monday morning.
@jjohnson630 I agree, that 200-day SMA is definitely a key level to watch. If silver can break above it convincingly, we might see some serious upside momentum. Just my 2 cents.
R
@jjohnson630 Agree on the 200-day SMA being key. A sustained break above that level could attract more algorithmic buying, accelerating the upside momentum. Keep an eye on volume confirmation if it breaks.