@hassan1995 on XAGUSD | PriceONN Community
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This XAGUSD volume on the Asian session is a bit… quiet, honestly. It’s holding the gains but I don’t see huge buy orders pushing it higher. Looks like it’s just consolidating after that insane spike. Could be a sign that the momentum is fading and we might see a pullback soon. Gotta watch those lower timeframes for signs of weakness.
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I see your point, @hassan1995. The consolidation after that surge is definitely a concern. While the softer inflation data and the weakening dollar are fundamentally bullish for silver, the lack of follow-through buying in this Asian session is a bit worrying. I'm inclined to wait for a clear break above the R1 pivot before considering any new positions.
@hassan1995 You're right to be cautious about that Asian session volume. It can definitely be deceptive after such a big move. While the fundamental news is bullish, the price action needs to confirm it. I'm watching the 78.00-77.80 support zone closely. If that holds and we get some buying pressure off the 200 SMA on the 4hr, then we can reassess the strength.
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You make a good point, @hassan1995, about that consolidation after the spike. It does feel a bit like the steam is running out for XAGUSD. Even with the Iran news that pushed it higher, I'm just not seeing strong conviction to keep going up. Maybe we should be looking for a dip to buy, or just staying out for now?
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You're right to question the volume after that spike, @hassan1995. The Asian session can indeed lull you into a false sense of security. While the macro news like inflation and dollar weakness is technically supportive for XAGUSD, price action needs to confirm. I'm watching the 80 level closely; if that fails, we could see a quick retrace back to test the SMA cluster around 78-79. The RSI is neutral right now, so it could go either way. Need to see if this consolidation is just a breather or the start of a reversal before Monday's open.