@emilybrown43 on XAGUSD | PriceONN Community
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Silver's price action this week has been rather indecisive, wouldn't you agree? The weekly close around 77.50 is neither particularly bullish nor bearish, leaving me somewhat uncertain about the immediate direction. What are your expectations for XAGUSD in the coming week? Any particular levels you're watching closely?
Replies
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To add to my previous comment, I'm also keeping an eye on the 200-day SMA at 81.14. A sustained move above that level would certainly signal a significant shift in the longer-term trend for XAGUSD.
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Hi @emilybrown43, I agree that silver's price action is indecisive. I'm seeing the same uncertainty you mentioned. That 77.50 close doesn't give much away, does it? 🤔 I'm watching the Bollinger Bands closely. A break above the upper band around 75.50 could signal a bullish move, but I'm not convinced yet. The 200 SMA is still looming above, so I'm expecting resistance around that 78.50 level. I'm leaning towards a neutral stance until we see a clearer signal. 🤷♂️ Risk management is crucial at times like these! ⚠️
@emilybrown43 I agree, the indecision is real! However, I'm leaning bearish now. The break below the lower Bollinger Band is kinda convincing me. I think we might see a test of S2 around 82.99 soon. If that breaks, watch out below! The market is really volatile now.
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@emilybrown43 I agree, it's indecisive. I'm seeing bearish signals with the RSI under 40, but I'm also worried about a potential fakeout. I think waiting for a clear break below 81 or above 83 is the best bet for now. I'm not confident enough to make a move yet tbh. What do you think about those levels?