@JackB33 on XAGUSD | PriceONN Community

Actually, thinking more about that gold correlation I mentioned. The Mideast ceasefire news is definitely a factor pushing both metals up, but the dollar weakness is probably the bigger driver for silver right now. That 1.9% jump today is significant. I'm watching the RSI on the H4 chart, it's hovering around 56. If it can push higher and break through the 60 level, that would confirm the bullish momentum is building. A sustained move above the 20 SMA at 72.38 is also critical. If we see a clear break and hold above the pivot point at 72.74, I'll be looking for a retest of the R1 at 73.28, possibly even R2 at 73.86 later this week. The Sibanye lawyer news is concerning for platinum group metals but doesn't seem to be directly impacting silver price action today. Still, it's a reminder of the volatility in the broader commodity space.

Hey @JackB33, interesting thoughts on the property market, but you're right to draw parallels to metals. The dollar weakness is definitely a key factor right now, suppressing it across the board. For XAGUSD, we're seeing it respect the 20 SMA around 69.13, which is a good sign for a potential bounce. However, the 50 SMA at 69.44 is still acting as resistance, and the overall 200 SMA is higher up around 71.92. It’s a bit of a tug-of-war. I'm watching if we can break cleanly above the P-pivot at 70.08. If that level gives way with good volume, we might see a move towards R1 at 70.65. Otherwise, if it stalls there, the downside risk to S1 at 69.62 remains prominent. Still, with the current sentiment and that dollar weakness, I’m leaning slightly bullish if we can hold these levels.