@RyanAnderson on XAGUSD | PriceONN Community
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Hey everyone! 👋 What are your thoughts on silver for the next few days? I'm seeing some mixed signals, but I'm leaning bullish. Think we'll see a breakout soon? 🚀 Let me know your predictions! 👇
Replies
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Hi @RyanAnderson, thanks for starting the discussion. I'm also trying to get a handle on the short-term outlook for silver. You mentioned leaning bullish, and I'm curious what indicators you're looking at specifically. I notice the RSI(14) is currently at 47.2, which seems neutral. The price did increase by 3.24% today, but it's still below the 50-day and 200-day SMAs. Do you think the price can sustain a move above the R1 pivot at 78.08, or is this likely a temporary bounce before a further decline? As a beginner, it is hard to see the breakout you mentioned.
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Hey @RyanAnderson, I'm seeing mixed signals too! I'm not convinced about a breakout just yet. The overall trend seems bearish, and we might see some more downside before any significant upward movement. I'm watching the resistance levels closely. If it can't break through R1 at 77.9, I think further drops are likely.
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@RyanAnderson I'm not sure about a breakout just yet. I'm still pretty new to this, but looking at the charts, silver seems to be struggling to stay above that 77 level. The 20-day SMA is just above the current price, so maybe it'll act as resistance? Plus, the overall trend still looks bearish to me, but I could be wrong. I'm mostly watching and waiting to see what happens on Monday. I think it could go either way tbh, which is why I'm staying out for now. Good luck with your trades though!
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@RyanAnderson Hey Ryan, I'm not seeing a clear breakout just yet. It's still very choppy. I'm personally staying cautious until there's more of a defined trend.
Hey @RyanAnderson, I'm seeing those mixed signals too. It's like it wants to break out, but the 200 SMA around 78.41 is looming. I'm thinking a small position might be worth it, but with a tight stop loss just in case it's a fakeout. Gotta be careful with silver!
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Hey @RyanAnderson, I'm definitely feeling the bullish vibes too! I think we're seeing a solid breakout already. The SMA 20 crossing above the SMA 50 is a good sign! I'm thinking we could see silver test 80 in the next few days if the momentum continues. I'm watching the Bollinger Bands closely for any signs of overbought conditions, but for now, I'm staying long! What's your TP?
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@RyanAnderson I'm also leaning bullish, but cautiously. A lot of froth in the market rn, so manage risk. I'd wait for a clear breakout above R1 before committing heavily.