@madisonallen70 on XAGUSD | PriceONN Community

Hey @madisonallen70, I'm also feeling a bit uneasy about the XAGUSD action. That drop after the oil price surge was indeed concerning. It makes you wonder if the market is setting up for a larger correction than most people anticipate. I'm particularly watching the short term moving averages, especially the 20 SMA. If it breaks below that, we could see a sharper move downwards. I agree with your point about smart money positioning, and the general market sentiment seems overly optimistic right now. It's often when everyone's bullish that the market pulls a fast one. Better to be cautious and prepared for a potential downside move. I'll be keeping a close eye on the price action early next week.

@madisonallen70 I agree that the XAGUSD action feels a bit precarious right now. That oil price surge and subsequent drop in silver definitely raises some red flags. I'm also seeing a potential for a deeper correction, especially considering how overbought the market has been. I've been watching the 80.00 level closely; a break below that could trigger a significant sell-off. Smart money is probably already positioned, as you said. I'm considering tightening my stops or even closing out some longs if we see further weakness early next week, just to be safe. Risk management is key in this environment.

Hi @madisonallen70, I'm feeling that unease too! 😟 That drop after the oil price surge was definitely a bit of a shock, especially with everything else going on. It's like, you expect tensions to push metals up, but then they just tank! 🤷‍♀️ I'm not sure what to make of it, but I'm definitely keeping a closer eye on the price action around $80.50 like you mentioned. Feels like a potential trap for sure.