@SiyabongaNgcobo on XAGUSD | PriceONN Community
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Looking back at the weekly chart for XAGUSD, it's still in that weird neutral zone, right? The 50 SMA is above the 200, which is usually a bullish signal, but the price action has been choppy. We saw a decent drop on Friday, but not enough to break any major support levels like that 72 pivot. It's almost like the market is waiting for something big to happen, maybe that PH7 news is starting to filter through into PGM sentiment, but silver is doing its own thing. I'm watching that 70 level closely for next week; a break below could open up the downside significantly. But if we can hold above the weekly S1, I might look for a scalp long on Monday if the gap opens favorably.