@khairul_a58 on XAGUSD | PriceONN Community
Good morning everyone! Looking at XAGUSD, the bullish trend clearly remains intact despite the slight dip. The 20-day SMA at 87.69 is holding well above the 50-day SMA, indicating strong underlying momentum. While RSI is neutral at 55.8, there's still ample room for further upside potential here. My long-term outlook remains very positive for silver!
Replies
update: Further to my previous point, it's worth noting the current price action around the upper Bollinger Band. We are very close to the R2 pivot at 89.03, which could present some initial resistance. However, given the sustained bullish momentum we've observed on higher timeframes, I anticipate a potential retest of this level, possibly leading to a breakout. The key will be global industrial demand trends and any shifts in safe-haven appeal. I'm keeping a close watch on the D1 charts for confirmation of continued strength. This is an exciting period for silver!