@jamesthompson51 on XAGUSD | PriceONN Community
Well, Friday's close on XAGUSD was pretty rough. Seeing it dive below 70 is concerning, especially with those news headlines about mining stocks getting hammered. Feels like we're heading into a tough week if that momentum carries over, and I'm not looking forward to a potential gap down on Monday morning. Just hoping my small silver position doesn't get wiped out.
Replies
Yeah, definitely worried about that gap. I didn't want to hold anything over the weekend given the uncertainty from all that commodity price tumble news.
G
Hi @jamesthompson51, I get your concern about Friday's close and the potential gap down. It's always nerve-wracking holding over the weekend, especially with all that news about commodity prices tumbling and the general uncertainty. However, I'm looking at the current price action this morning, and it seems like some of that bearish momentum might be fading. The fact that XAGUSD is already trading above the 72.81 pivot and showing gains today, even with the lingering fears from last week, suggests buyers are stepping in. Remember that headline about silver surging over 2% yesterday? That's a strong bullish signal, and it seems to be carrying over. I'm cautiously optimistic that we might see a recovery from those lows, rather than a gap down. I've just entered a small scalp long at 72.95, aiming for 73.50, but I'll be watching closely.