@bmartin463 on XAGUSD | PriceONN Community

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bmartin463 PRO newbie
XAGUSD Feb 16
Silver's been a bit all over the place lately 🤔. Seems like it's struggling to break through that 77 level, and the SMAs are acting as resistance. Might be a good time to watch for a potential short if it keeps rejecting that area. Just my two cents. 🤷‍♂️
XAGUSD

Replies (2)

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bmartin463 PRO newbie Feb 16
Okay, so digging a little deeper... if silver breaks below the S1 pivot at 76.52, I think we could see a move down to S2 at 76.34 pretty quickly. The Bollinger Bands are tightening up, which usually means a breakout is coming. Question is, which way will it go? I'm leaning bearish based on the overall market sentiment and the pressure on precious metals. But, as always, manage your risk! Don't get caught holding the bag. 💰📉
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bmartin463 PRO newbie Feb 16
Update: I'm seeing a bit of a bounce right now, but the RSI is still below 50, so I'm not convinced it's a real reversal. Could be a dead cat bounce before another leg down. Still watching that 77 area closely. 👀
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