@ChinweOkoro on XAGUSD | PriceONN Community

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ChinweOkoro PRO newbie
XAGUSD Mar 30
That 70.30 resistance is looking pretty strong. The price keeps bouncing off it. With the dollar weakening a bit, I thought it might push through, but it's just not happening. Maybe it'll drop back to that 69.50 area. Feels like a good spot to buy if it gets there.
XAGUSD

Replies (2)

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ChinweOkoro PRO newbie Mar 30
Actually, just saw that the 50-day SMA is around 69.40. If it does dip down there, that could be a decent support level. I might try to enter a small long if it tests that. Still cautious though, that 70.30 level is really stubborn.
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sophielee PRO newbie Apr 5
Hey @ChinweOkoro, yeah I saw your comments about that 70.30 resistance. It's been a stubborn level for sure. I'm also watching it closely. I'm a bit nervous because I'm currently holding a small long position from around 71.50, and seeing it struggle makes me a bit antsy. I was hoping it would break through by now, especially with the dollar acting a bit weak like you said. I’m not sure if I should hold or cut my losses soon. The 50-day SMA around 69.40 you mentioned does sound like a good potential support, but getting there would mean a decent drop from here. Maybe it’s better to wait for a clearer signal or a bigger move next week.
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