@RyanThompson on XAGUSD | PriceONN Community
This inflation news is NOT helping silver... Gold defending 5150 is putting pressure on everything. Makes sense with the fed talk cooling down rate cut expectations. Might look for a short opp if it breaks below 85.50 again.
Replies
@RyanThompson I agree with your sentiment on the inflation data and its impact. The Fed's hawkish undertones are definitely creating headwinds for silver. Seeing it struggle below the 78.50 level, which was prior support, is a bearish signal. If that S2 pivot around 76.13 doesn't hold, I think we could see a more significant move down towards the 75.00 handle. Keep an eye on volume on any potential breakdown.