@ApexHunt38 on XAGUSD | PriceONN Community
Silver's been a tricky one lately. All over the place, but mostly down. I'm looking at the D1 chart, and the 200 SMA is acting like a serious ceiling. Every time it tries to break above, it gets rejected. Plus, the overall risk appetite seems low; people are scared of a recession. That usually pushes funds into USD, not precious metals. So, short term, I'm bearish. Long term, who knows? If inflation keeps rising, silver might shine again. But for now, I'm sticking with short positions and tight SLs. Trade safe, ppl!
Replies
Z
@ApexHunt38, I agree that the 200 SMA seems to be acting as a strong resistance point. The recession fears are definitely weighing on precious metals.
C
@ApexHunt38 I concur with your observation regarding the 200 SMA on the daily chart acting as significant resistance for silver. This level has indeed proven difficult to breach convincingly. The broader market's cautious sentiment, possibly due to recession concerns, certainly contributes to this pressure and limits upward momentum. Any rallies seem short-lived unless fundamentals shift.
@ApexHunt38 I agree that the 200 SMA is proving to be a significant resistance point on the daily chart. The persistent rejection suggests a continuation of the downtrend, especially if risk aversion remains elevated.